Elliott Wave Training

Are you looking to learn the Elliott Wave principle? Or maybe you already have some experience and want to find the ways to improve your skills better.

Click on this post for details:

http://wavepatterntraders.blogspot.com/2012/04/elliott-wave-training.html



Thursday, May 31, 2012

Individual Subscriptions

I have received a few requests asking if i can make available certain markets only for subscription

Currently the site has main groups, so there is not the facility to adjust certain markets for a certain group.

Each member requires to select a package that best suits their needs as shown below:

Monthly Subscriptions Package ($50 per 30 days)

This package gives you full access to the website.

US & European Stock Market Subscriptions Package ($30 per 30 days)

This package gives you full access to the US & European stock markets section of the website.
Daily analysis is done on the ES, SPX, NQ & NDX for the US markets and the FTSE and DAX for the European markets.


Occasionally I will look at other markets, and post accordingly. Members can request updates to other markets (subject to data) at any time if they have not been covered for a while.

FX Subscriptions Package ( $30 per 30 days)

This package gives you full access to the FX section of the website.


The 4 major crosses EUR/USD, AUD/USD, GBP/USD & USD/CAD are updated daily, other pairs are updated as and when opportunities arise, but a total of approx 10-15 pairs are covered, but the focus is on the 4 major pairs against the US$.

Members can request updates to other pairs at any time if they have not been covered for a while.

Commodities & Interest Rates Subscriptions Package ($15 per 30 days)

This package gives you full access to the Commodities & Interest rates section of the website.
Daily updates are usually on Gold, Silver & Oil, with other markets updated as and when opportunities arise.

Members can request a market to be updated at any time.

These markets are not aggressive moving markets; hence the updates are not as regular as other parts of the website.

US Stock Market Subscriptions Package ($20 per 30 days)

This package gives you full access to the US stock markets section of the website.
Daily analysis is done on the ES, SPX, NQ & NDX for the US markets.
Occasionally i will look at other US stock markets for clues such as the DOW, R2000 etc.

European Stock Market Subscriptions Package ($15 per 30 days)

This package gives you full access to the European stock markets section of the website.
Daily analysis is done on the FTSE and DAX for the European markets.
Occasionally i will look at other European markets for clues, such as the CAC etc.

WPT Elliott Wave Market Newsletter Package ($20 per 30 days)

This package gives you access to the newsletter which is 3 times a week. Updates are every Tuesday,& Thursday before the US markets open, and an expanded weekend newsletter which shows the bigger picture ideas. Ideal for the swing trader or the trader/investor that has limited time.


Analysis is done on US markets (generally includes SPX, NDX, DOW, R2000), Gold, Silver and EUR/USD.

Charts analysis is generally suited for the swing and position trader, that wishes to hold a trade for a number of days/weeks.

However i can get the main website at http://www.wavepatterntraders.com/ modified so that i can include various one off groups for example

If i received enough interest (at least 5 members) for one particular market then i can adjust the forum so that the package becomes available for selection to purchase that one market

So lets say for example i had interested clients that only wanted to view analysis of EURUSD or GOLD then i can set up a group that allows you to purchase a package for that one market

Depending on the up take i can adjust to suit any clients,

So if you are only interested in just one market etc, like GOLD, AUDUSD or EURUD

The current packages are excellent value, however if there is enough interest i will adjust to suit the market place.

Can you please send me an email to enquires@wavepatterntraders.com

Confirming that you would be interested in analysis on one market and confirm which market.

If there is enough interest i will go about modifying the website to allow other members to view certain markets.

For one off markets the price would be $10 a month, so you can see the site has value as a bit extra gives you access to more markets.

Elliott Wave Analysis of Oil



This is a great example of why i trust what i see and not what i read or other peoples opinions

Elliott Wave gives you that flexibility

Elliott Wave foretold the decline, is it a 100% certainly? of course not, but when i see corrective price action that is sloppy and looks like a 3 wave bounce, that is telling experienced Elliotticians that the next move is most likely lower

The result speak for itself!

From $92.19 it looks like a small wave [iv] and [v] needed to finish a 5 wave decline, from there some sort of upside should be seen, i suspect it will align with the US$ reversing and other risk markets

No Iran news, no war news, just simply following price, thats all we need and trust what we see

If you understand price you can gain a massive edge on the probability of the next move

Wednesday, May 30, 2012

Elliott Wave Analysis of 6C Futures



You can see many other markets like GBPUSD, EURUSD, USDCHF and the DX have the same setup, 5 waves from the April/May period

The majors are deffo the pairs to be watching over the next few days

Elliott Wave Analysis of ES (e-mini S&P)





The last few days have seen some nasty whipsaw, and i still suspect its an ABC advance, as what you have seen is a strong wave A, then a deep wave B, followed by a wave [c] only this is what we call an ending diagonal (ED), then whipsaw is classic of that pattern, as its created a number of moves to cause trouble for both Bears and Bulls a like

But if this is complete we should be ready to puke now

Under 1325 then 1317ES are the 1st and 2nd clues

Resistance at 1330ES

Thats some nasty set of waves, but look carefully you can see its only just over its measured move target

So as it stands, it looks like a simple ABC advance

Tuesday, May 29, 2012

Elliott Wave Analysis of Natural Gas





Is there a long term low in place? It sure looks like it

I can count a 5 wave advance from the last swing low, if we get to see a 3 wave decline it could be the "buy of the year" if you can hold on to the trade


NOTE: DO NOT BUY THOSE SCAMMING ETFS THEY ARE NOT LINKED WITH THE MARKET, YOU WILL LOSE $$. EITHER TRADE THE MARKET OR DONT TRADE IT AT ALL.

YOU HAVE BEEN WARNED

You can buy E-minis on NG

Sunday, May 27, 2012

Elliott Wave Analysis of EUR/USD (Fractals)






I initially posted this fractal to members back in April 2012 and i was using a previous fractal from a high made in August 2012 at 145, and the expected drop was to be a strong break lower.

This was at the time i was reading all sorts of silly targets of 136 up wards to 150, i did wonder what planet these traders were living on, because at the time, i simply never saw any evidence for such a move.

It reminded me back in August 2011 and traders again were looking for 150+ even 160 i remember on one forum again, i sometimes wonder do people just have a brain freeze and forget about history?

Anyhow fast forward, we are 6 weeks on and over 750 pips lower from that initial posting.

It just shows you a little bit of effort can do wonders, using a prior fractal from Aug 2011 foretold of a high probability trade on the EURUSD, yet i never once saw this idea on the Internet.

Maybe i just look for the edge a little too much, edge or no edge, using history shows you that traders do the same thing over and over again, we just seem to forget it.

This is the core basis of Elliott Wave, using fractals and price action from the past to project the future going forward.

Saturday, May 26, 2012

Elliott Wave Trading Made Easy

As the title says, the aim of this article is for readers to come away after reading the article better informed and take the information and use it in their daily trading and become better informed applying the Elliott Wave Principle.

If you are new to the principle or have a passing interest in the Elliott Wave Principle, then I am sure that the information found in this article should benefit readers greatly.

Much has been written over the years about the principle, and it really has not changed that much since the days that Frost and Prechter first wrote the book Elliott Wave Principle I believe in 1978.

Although published a long time ago, that book is still considered the “bible” of the Elliott Wave Principle, and I suggest anyone that is seriously interested in the Elliott Wave Principle should try to get themselves a copy.

Although if you click on this link, you can download yourselves a copy in a PDF format from Scribd.com.

http://www.scribd.com/doc/7381626/The-Elliott-Waves-Principles-Frost-AJ-PrechterRobert-R

Elliott Wave is considered to be extremely complicated, too much ambiguity and simply put many think of it as some sort of voodoo that only a selective few can decipher.

Well I hope over the next few pages to change that way of thinking, and make it easy for readers to apply the principle and to show you that Elliott Wave is far easier than many are lead to be believe.

It’s not some voodoo system; it’s a very simple system that anyone that can count to 3 and 5 can use.

Simply put if you can’t count to 3 or 5, then yes its likely to be very difficult for you to understand.

My approach to using Elliott Wave is likely to be far different to the academics that have learn the theory but never actually used it in real life trading conditions, it’s my opinion that unless you are a skilled and season trader, you simply will never understand its quirks and use the theory to its maximum potential and understand it in great detail.

Being a full time professional and using the Elliott Wave Principle daily and finding ideas for members is where experience can only be taught or learn from someone who has many years watching, breathing the waves as they involved over time.

That part you will never learn from a course or book, that will only come from time spent watching 100s of hours screen watching.

Over the years I have honed down the theory to keep it as basic as possible, no fancy corrections or letters, just a basic setup that even the traders with a little knowledge will be able to understand.

I have been working with clients to improve their knowledge, but I have shown them my way of thinking.

The rest can be dowloaded from here:

http://www.wavepatterntraders.com/ElliottNewsletter/easy.pdf

Elliott Wave Analysis of GBPNZD



Its possible that this is suggesting a 5 wave advance has finished from 1.9161, although i have included some other alternative options, as i am not impressed with the decline so far from the highs at 2.1049

So i am watching closely to see if this morphs into a possible flat or triangle and still on going in wave [iv]

With or without a new high, this should be setting up for a decent reversal. To correct the advance

Thursday, May 24, 2012

Elliott Wave Analysis of USDJPY








When trades are this easy, why do you need to know the long term wave count?

I wrote this for members on 22nd May

"The JPY crosses are a mess, but this pair seems to be the best pair of them all, so i am still counting from 80.54 and a simple setup for a trade as the daily picture is ugly

We have a clean 5 wave decline and potentially a bounce to the 61.8% retrace, so risk is controlled to 80.54, as above there the idea is simply wrong"


You have another 5 wave decline from 80.13, so another setup.


Keeping it simple works

Wednesday, May 23, 2012

Elliott Wave Analysis of NZD/USD







Before and after shots

Were you ready to sell it?? or was you looking to the moon as most other treaders were

This is what i wrote on 4th March

"So if this count is now finished (which looks virtually text book), i am now looking for a strong move lower to 0.7300"

The result ............... well you can be the judge

Elliott Wave Analysis of AUDUSD







Simple set up before and after shots.


We knew where the risk was, the result speaks for itself


"This pair has not confirmed the move in US stocks, and it looks like a 3 wave advance, and a sharp decline from 0.9933 and currently a 3 wave bounce to the 618 retrace from 0.9933

So we can setup now for a strong break lower, risk is to 0.9933 the prior highs"

Tuesday, May 22, 2012

Elliott Wave Analysis of ASX




Is this wave [iv]?, and setting up for a move lower in wave [v] from 4448, its been a great move for those that followed it off the ED reversal , but sheesh its been aggressive to say the least

I still expect to see 3800 (daily wave count) tested or lower. Until i see something to invalidate this idea i will stick with it, we should see sub 4000 tested to end wave [v]

Sunday, May 20, 2012

Elliott Wave Analysis of NIK-225 (Japan)








This has been one great market to count waves, and virtually text book so far, a great example to newbies on counting


Still looking for that overall 5000 area, although it needs under the last major lows in March 2009 for the minimum target on the idea from the 1989 high.


Over 900 points lower, this is simply the market that keep on giving, whilst Bearish traders have been fighting the tape on the US markets, all they had to do was have a look at the Japan markets and you would have yourselves an easy trade

I have no reason to suspect any difference, its done what i wanted, although this is only a market i seldom update for a few clients as its a free market, but when its like this you dont need to complicate it.


You simply remain short and bring down stops occasionally, you simply use key areas to denote where the idea is wrong, and run the trade.

What can be easier?


I wrote this on 16th April

"I suspect we have finished an expanded flat for wave 2 of [C] and head lower, we should not be seeing above 10k for the foreseeable future "

One month on it sits approx 900 points lower.

Do i see 7k before 10k?

Market Report: The Dam Has Broke

Last week, I left readers with the possibility of the US markets finding a low if they could hold support early last week, we were expecting a gap down towards 1333-1338ES, to finish a potential 5 wave decline from 1411ES.

It was then I was expecting some sort of rally to try and confirm the working ideas we had, well we got a rally (if you can call it that) but it was not what we were expecting for either the bullish or bearish ideas we were working, so much that we had to take invasive maneuvers quickly, the markets lack of strength was alarming and whilst we bought the lows around 1333ES twice, we simply never seen the sort of strength I was expecting, by Wednesday I had other ideas and made it known to members that failure to get above 1342ES (1340SPX) was a big issue and was very bearish, well the market failed to get above our area, in fact it struggled right at our 1342ES #, so much that is got us short and looking lower, and throwing away our initial ideas that we were working the start of the week and got us aggressively bearish.

That's call turned out to be a great call as it has yielded over 50 handles.

I was very bullish at the start of the week looking for an important low, by Tuesday I had my doubts, by Wednesday it was pretty clear the bulls had failed and as my motto says.

"If what you expect to happen does not happen get out"

Which is exactly what we did, we ditched the bull idea and flipped back to being short, as we had been short most of last week into 1333ES, the failure to get above 1342ES suggested the market has finally caught up with the massive divergences that have been seen on the forex risk markets as well as the European stock markets.

I have shown this chart before, but it's a very important chart and has kept us selling and remaining short European stocks and forex risk pairs.

Read the rest here: http://www.safehaven.com/article/25496/market-report-the-dam-has-broke

Saturday, May 19, 2012

Elliott Wave Analysis of Gold









The Bulls made a great start, and i am very impressed considering that the precious metals have been tracking the risk markets such as AUDUSD, NZDUSD, AUDJPY etc since the Dec 2011 lows.

That was until Thursday just gone, they completely diverged from that link and went alone, after holding the triple bottom, Gold could be poised to rally big.

I am showing a short term wave count that could be in play, but if you want to follow my long term ideas, then i suggest joining the site

Click here for information: http://www.wavepatterntraders.com/topic/647-subscription-packages/page__pid__12411#entry12411

For $15 a month you can get access to the main website at http://www.wavepatterntraders.com/ where you will be able to read my daily updates on Silver and Gold, (and other commodities) and get access to my big picture ideas. You get to know where i think Gold is going on a regular basis and know where ideas are wrong for risk control.



As a bonus members also get to view the HUI market, so if you are a Gold stocks trader this package gives you access to the HUI as well, with the HUI potentially just putting in a potential major low. We could be on the verge of something big.

Friday, May 18, 2012

Elliott Wave Analysis of RIO Rio Tinto











Looks like we could be seeing the March 2009 lows and lower, that should be a great buy, a simple 5 wave decline in the crash of 2008 for wave A


The wave B as a 3 wave bounce


So wave C back to test the March 2009 lows again in 5 waves, if this is correct then we are now in a 3rd of 3rd and a strong move lower



Bears need to keep it under the 3200 area (red line)




You can see how highly correlated Rio is to the FTSE, this count works well as i am looking for minimum of the Oct 2011 lows and around 4800 on the FTSE (predication made when the FTSE was at near 6000)

Elliott Wave Analysis of CAT (Caterpillar)








Another stock that should be on its way to the $65 area, and see the Oct 2011 lows tested, looks like a wave [iii] of 3.

Elliott Wave Analysis of GS (Goldman Sachs)





An update to the squid aka Goldman Sachs

Looks like these guys are in deep trouble, no need to change the wave count, its reversed well from its target, so we should exentually see the Oct 2011 lows over the coming weeks

Silver Analysis






Nothing special just an area of MUST hold support at $28.30, if this area breaks then its game over! and the trap door opens to $17.50.

Dont be a hero if the floor breaks, take the pain and get out, it will be much less painful at $28.30 than $17.50

Thursday, May 17, 2012

Elliott Wave Analysis of HUI







1st target hit, so far a potential daily hammer if this can hold, the target was an obvious area as soon it broke the granite floor, so its important for the Bulls to make their mark, as my next target is 250

Tuesday, May 15, 2012

Elliott Wave Analysis of EUR/CAD






Before and After shots

Simple, 5 wave decline and a 3 wave advance, this is simple text book Elliott Wave, even the most basic of trader can trade this idea


Learn from a skilled technician and it becomes easy

Elliott Wave Analysis of AUD/CHF









Before and After shots


Another one, a simple set up, a 5 wave advance and we were looking to buy the 3 wave pullback



This could just be a simple ABC advance or something larger, but using a simple 5 wave move, and looking for a 3 wave correction gave us a setup

Elliott Wave Analysis of EUR/AUD








Before and after shots

Even in this mess of a market we can find ideas to trade, clean and simple, we never even needed to know the daily wave count


5 wave decline and a 3 wave bounce, that is all you need to trade


You can count, to 5 and 3 cant you?


Elliott Wave is easy, when you follow a technician who knows what they are doing

Sunday, May 13, 2012

Elliott Wave Analysis of EUR/USD




As most traders are aware of the bearish potential with the H&S, i thought i would offer a different perspective, although i am obviously watching the bearish option and if the market cant bounce enough or shows weakness then we will sell it like the rest of the bears and look for sub 126. but there is usually 2 sides to a trade and this is one of those times i am watching both sides with equal weight, as i dont want to be caught in a potential trap

The Europe news is a fireball and one side is going to get roasted for sure

Take from this weekend's analysis:

The Bears need to watch for this idea, its at a point where it really could do some damage to the shorts, we are not seeing the price action i thought we would see for the really Bearish idea, so thats a major caution point

The news is coming thick and fast but this pair is still holding on, and its starting to create some massive RSI divergences

Its only below the 61.8% retrace, if you look at the DX it is virtually the same idea (the DX is at serious daily resistance)

If the US$ were to break down and puke lower, that is the trigger for full on risk trade, looking around and reading many websites, it seems we really do have a lot of Bearishness

Yet when i look at the charts i dont see the evidence i once expected, price action potentially suggests a reversal from 13282 and i see a 7 wave decline

From the 13485 highs its hit a 1x1 target, its also hit a 1x1 target from 13377, so we are on top of fibbo support as well as showing a potential setup if the Bulls step up

Its got really choppy the past few days, like it wants to base and rally, the news is out there and most traders have digested it, it would need a serious "news bomb" to push this pair "over the edge"

But as it stands it looks Bullish. Hence i think the Bears need to be very cautious if you see an aggressive rally back above 130


I dont have any particular bias, due to the fact that we are at levels where i see both outcomes with equal weighting, so i am simply going to jump on whichever idea gets confirmed

The bear option is reserved for members.

Elliott Wave Analysis of Set 100 (Thailand)




I have been tracking this for a while as i have a few friends who invest in Thai stocks, i have suggested that they take profits and sit back

There is overwhelming evidence of a reversal now in progress, with a suspect 5 wave advance from the 2008 lows, and the last 2 weekly candles suggesting an important high now in place, this is ripe for a substantial move lower

My initial target is 1300, and back to the previous 4th wave, from there i will evaluate again

Elliott Wave Analysis of KOSPI




Looks like we are already in the next leg lower, pretty much nailed the top tick.

http://wavepatterntraders.blogspot.com/2012/03/elliott-wave-analysis-of-kospi.html

1550 target, as long as it holds under 2000 look lower

Market Report: Perched on the Edge

Another great week of volatility, which is what traders want to trade, although we are perched now on the edge and an important choice needs to be made, very similar to what happened last year around this time.

I left readers with this chart from last weeks' article

Read the rest here: http://www.safehaven.com/article/25412/market-report-perched-on-the-edge

Friday, May 11, 2012

Elliott Wave Analysis of GBP/USD







Nice simple setup yesterday, me and members traders entry 16170 stops 162

Target 16060 or lower towards 160

Whats the daily count, do you need to know? NO

Simple ABC a 3 wave bounce to a measured 1x1 target, dont get any easier, legally stealing $$$

Elliott Wave Analysis of ASX 200







A quick update, i suspect this is signaling a small bounce, at least to 4320 is the ideal target, but it could be weak



With some other markets suggests a bounce from the trends we have seen in risk markets over the past 2 weeks, we can potentially see a relief bounce to correct this decline










Tuesday, May 8, 2012

ASX 200 VS AUDUSD






If the ASX200 is sending out a message, it suggests that the the AUDUSD is likely on its way lower, anything to do with Australia appears to be having issues

I have not checked the major mining stocks, but i suspect they are in down trends, as the ASX200 has been weak and a poor bounce from the 2011 lows

Elliott Wave Analysis of Crude Oil






This is one idea i am watching, although from the $106.48 area this looks like its needs a new low to complete a 5 wave decline.


Support is at the $95 area and we can watch the RSI for a positive divergence.


Its a tough wave count to label this as a Bearish 12 12, although its possible but its a little "forced"



Regardless of that, going forward, if we see a 5 wave decline from $106.48, then at least a 3 wave bounce is expected, and further downside could be setting up as per the idea shown.


We need a 7 wave decline for a WXY pattern, the last bounce into $106.48 is a little short to label it as a [b] wave of a 3-3-5 flat, so going to watch this idea going forward in the coming days





Strong support around $95


Monday, May 7, 2012

Market Report: Bears Get a Glimmer of Hope

Market Report: Bears Get a Glimmer of Hope - Nouf - May 6/12

Some crazy moves seen in the risk markets this past week, and potentially some important clues, but I suspect that not many traders are actually watching those clues, although they will do soon if those clues continue.

So what are these clues?

2 forex pairs I follow and have followed for a long time, especially over the past 3 years have been AUDUSD and NZDUSD, they imo are very important clues to where other risk markets will go.

We live in an age of margin, no more do we have a value market, what we have is a carry trade market. For those that have watched the markets for while already should know this, there are certain aspects of the markets that make up what we call "risk on" or "risk off", 2 key forex pairs being AUDUSD and NZDUSD.

Read the rest here: http://www.safehaven.com/article/25332/market-report-bears-get-a-glimmer-of-hope

Saturday, May 5, 2012

What is the message?




Whats the message that this chart is telling us?


If you want to find out, and all the others ideas we are tracking next week, sign up and make sure you got yourselves an edge



The markets are starting to get really chaotic, do yourselves a favor and get yourselves an edge


http://www.wavepatterntraders.com/topic/647-subscription-packages

Friday, May 4, 2012

Elliott Wave Analysis of Crude Oil




http://twitpic.com/9fw8gk







Thats some decline huh!!

I posted the 1st chart on twitter, a few days back, and it appears to have come off really well.


Sadly this is one of those occasions where you can be correct on your analysis but wrong on the trade

What does that mean?


I got stopped at $105.80 on that spike, so even though you can call the direction right, if you dont get a decent entry and keep yourself in the trade , you can still have a loosing trade

I could so a special "marketing post" like my competitors and tell readers how superb the trade was, but sadly that would be simply lying

This is a great example, that doing your best sometimes, simply is not enough

Whats the moral of this post?

Sometimes you do your best and it still dont reward you with a successful trade.

It happens, and anyone that thinks they can avoid it is dreaming, fortunately i and members have had a good week, so made up and more for this small loss

Just keep doing your best and taking the quality set ups the rest will take care of itself


So when you see a successful outcome with charts, just remember actually trading the idea is little different to showing some charts

Elliott Wave Analysis of FTSE


























The FTSE has been mediocre compared to the US markets, but held up better than its counter parts the DAX,CAC & EURSTOXX

Currently there is 2 ways to label the moves, its always been my thoughts that the move is a corrective move, so far we have see a great reaction from my target areas from back in March 2012

Idea 1 is that of an expanding leading diagonal, a rare pattern, but very valid, if the bounce we are currently involved in remains around the 5850 area and a 3 wave advance, i suspect there is far more downside looming and towards 4800 is an initial target

Idea 2 delays the decline but working an ending diagonal so a move towards 6100-6150 then a reversal.

So currently its about the current advance to confirm or negate this suspected 3 wave advance

I wrote this back in 13th March

"I still think we need to retest the highs again between 5860-6000 again, to finish this idea i posted yesterday, so on a new high, i am actively looking for a reversal again"

The result speaks for itself

Are you looking to follow these ideas?

For $15 a month you can follow my European market ideas