Daily Wave Analysis

[immy]

Here we'll do daily wave analysis. either a quick video or chart(s) Everyone is welcome! (don't just put it on my tiny shoulders ok... )

[Dave]

Do you mean intraday - the waves within the day, or waves on a daily timeframe?

[immy]

Do you mean intraday - the waves within the day, or waves on a daily timeframe?

H1 and Above!

[immy]

E.g. We see a Divergence on EJ Weekly, and we ahve a BDB this week. My analysis is that if EJ does a large correction, which woudl be 4th wave of this move up on the weekly chart, then EG and EU would follow suit and create some major waves of its own to the downside. I wont be surprised if The God of Chaos formulates events that would fit nicely for the purpose of breaking THE EU Weekly S1 short. EU looks like it may do a 5th of 5th to the downside, but looking at weekly chart, there are chances of it turning into a Wave 3 on weekly, which would make the 3 down on Daily as our wave 1 down. exciting times for traders no so much for Euro itself! poor euro.

EJ, the last time weeklies created a BDB on the other side of Gator was 11 months ago , july 2012 and 3500~ pips away and now we have another one at the top of the wave. I have one position that I have timed from BDC H1, I will be able to gain massive RR's if that was correctly the top of Wave 5 on Weekly we'll see.

[francisrama]

Hi Immy,

thx for this post, which is very very interesting indeed. I think/I'm sure this is one missing link for me. And if you please I would be grateful if you could shed some light on this one for me

What I do daily, at night =
- check daily charts, spotting good trends if any, or saddle points...
- then I survey H1 of the pairs I spotted for any set ups

So far it works petty good, even if there are times when it does not work that fine )))...But I'm sure this can be refined...

My questions please =
- On the daily chart I am able to spot e.g. trend down, and we are in wave3...Ho would I bring this information down to my H1 chart. In other word how could I "see" this D1 W3 on my H1 chart?
- Will I see this daily wave as a H1W1 + H1W2 + H1W3 + H1W4 + H1W5 on my H1 chart?

Thank you heart fully in advance
KR

[immy]

Hi Immy,

thx for this post, which is very very interesting indeed. I think/I'm sure this is one missing link for me. And if you please I would be grateful if you could shed some light on this one for me

What I do daily, at night =
- check daily charts, spotting good trends if any, or saddle points...
- then I survey H1 of the pairs I spotted for any set ups

So far it works petty good, even if there are times when it does not work that fine )))...But I'm sure this can be refined...

My questions please =
- On the daily chart I am able to spot e.g. trend down, and we are in wave3...Ho would I bring this information down to my H1 chart. In other word how could I "see" this D1 W3 on my H1 chart?
- Will I see this daily wave as a H1W1 + H1W2 + H1W3 + H1W4 + H1W5 on my H1 chart?

Thank you heart fully in advance
KR

All you need to know is if you have a trend on D1, if you see that Gator is open to upside and momentum is rising, each time there are a couple of red candles on D1 you'd be looking to take any trade in that direction, which means long trades, with confidence knowing that you are in the direction of the main trend, which is up since the gator is open to upside.

This means you are trading higher probability setups because Higher Probability setups are Breakouts in the direction of Higher Time Frame trends. In order to pin point the waves, you can do that too but there is no need. I like to keep it subjective rather than objective. If I make it objective in terms of counting all the waves, I'll become Elliottician and that I am not!

I hope it makes sense.

[francisrama]

Thanks very much for your prompt response Immy. It does make sense, and also it is much easier that way...

KR

[francisrama]

Hi Immy,

thx for this post, which is very very interesting indeed. I think/I'm sure this is one missing link for me. And if you please I would be grateful if you could shed some light on this one for me

What I do daily, at night =
- check daily charts, spotting good trends if any, or saddle points...
- then I survey H1 of the pairs I spotted for any set ups

So far it works petty good, even if there are times when it does not work that fine )))...But I'm sure this can be refined...

My questions please =
- On the daily chart I am able to spot e.g. trend down, and we are in wave3...Ho would I bring this information down to my H1 chart. In other word how could I "see" this D1 W3 on my H1 chart?
- Will I see this daily wave as a H1W1 + H1W2 + H1W3 + H1W4 + H1W5 on my H1 chart?

Thank you heart fully in advance
KR

All you need to know is if you have a trend on D1, if you see that Gator is open to upside and momentum is rising, each time there are a couple of red candles on D1 you'd be looking to take any trade in that direction, which means long trades, with confidence knowing that you are in the direction of the main trend, which is up since the gator is open to upside.

This means you are trading higher probability setups because Higher Probability setups are Breakouts in the direction of Higher Time Frame trends. In order to pin point the waves, you can do that too but there is no need. I like to keep it subjective rather than objective. If I make it objective in terms of counting all the waves, I'll become Elliottician and that I am not!

I hope it makes sense.

Immy,

how "funny" it is = re reading this post today makes FULL SENSE now ah ah ah. Incredibly cristal clear!!!!

Thx for your guidance buddy!
KR

[immy]

A fantastic Wave count. Thank you eWave, thank you Snorm!

[immy]

The Power of eWave and TZ1

DAX hits TZ1 on H1, bounces with some force. Drop to M1 and I see a great eWave to the supside. Guys and Gals, this is our edge. We gotta make use of it to our advantage.