Elliott Wave Principle

The Elliott wave principle, was discovered by Ralph Nelson Elliott and it is a technical analysis tool of Forex price movement that is based on sentiment of market participants. The Elliott wave principle works perfectly with price trends with respect to highs and lows of price, resistance, and support, impulse and corrective price movement for a currency pair.

However, Ralph Elliott highlights the fact that market price movement in a wave pattern, is determined by the psychology of market participants. Market price hovers between impulsive wave and corrective wave. There are five wave sequence to the Elliott principle; wave 1, 2 , 3, 4 and 5. Wave 1, 3 and 5 are the impulsive waves while wave 2 and 4 are the corrective waves.

Check Out

Support and Resistance

LONDON BREAKOUT STRATEGY FOR GBP PAIRS

Introducing The Beandicator Signal!

Introducing the Pips-Beantrapper Indicator!

Achievable End Of Year Target For Newbies

 

ELLIOTT WAVE SIGNALS

CHFJPY: 1 HR (20 NOV 2018 21:50 GMT)

Elliott

EURCHF: 1 HR (20 NOV 2018 21:44 GMT)

Elliott

EURAUD: 4 HR (20 NOV 2018 21:39 GMT)

Elliott

USDCAD: 1 HR (20 NOV 2018 21:10 GMT)

Elliott

EURUSD: 1 HR (20 NOV 2018 20:42 GMT)

Elliott

GBPCHF: 30 MINS (27 OCT 2018 22:48 GMT)

Elliott

EURGBP: 30 MINS (27 OCT 2018 22:28 GMT)

Elliott

 

GBPUSD: 30 MINS (27 OCT 2018 22:18 GMT)

Elliott

USDJPY: 4 HR (27 OCT 2018 22:11 GMT)

Elliott

NZDJPY: 1 HR (23 OCT 2018 22:20 GMT)

Elliott

 

USDCHF: 4 HR (18 OCT 2018 23:43 GMT)

Elliott

USDJPY: 4 HR (18 OCT 2018 23:20 GMT)

Elliott

 

GBPUSD: 4 HR (11 OCT 2018 22:39 GMT)

Elliott

 

EURUSD: 30 MINS (11 OCT 2018 22:32 GMT)

Elliott

 

GBPJPY: 4HR (7 OCT 2018 16:41 GMT)

Trendline

 

USDJPY: 4HR (7 OCT 2018 15:54 GMT)

Trendline

 

GBPUSD: 4 HR (7 OCT 2018 15:29 GMT)

Trendline

 

AUDUSD: (3 OCT 2018 06:34 GMT)

Elliott

 

CHFJPY: (TUE 02 OCT 2018 21:46 GMT)

Elliott

 

EURCHF: (TUE 02 OCT 2018 21:41 GMT)

Elliott

 

GBPJPY: (TUE 02 OCT 2018 21:36 GMT)

Elliott

 

AUDNZD: (MON 01 OCT 2018 13:00 GMT)

Elliott

AUDJPY: (MON 01 OCT 2018 10:25 GMT)

Elliott

 

USDSDG: (FRI 28 SEP 2018 06:39 GMT)

Elliott

AUDCHF: (THUR 27 SEP 2018 06:30 GMT)

Elliott

EURCAD: (WED 26 SEP 2018 22:10 GMT)

Elliott

 

CHFJPY: (TUE 25 SEP 2018 21:38 GMT)

Elliott

 

NZDUSD: (TUE 25 SEP 2018 21:30 GMT)

Elliott

 

NZDCHF: (TUE 25 SEP 2018 00:08 GMT)

Elliott

 

CADCHF: (TUE 25 SEP 2018 00:02 GMT)

Elliott

 

AUDCHF: (MON 24 SEP 2018 23:55 GMT)

Elliott

 

GBPAUD: (FRI 21 SEP 2018 16:31 GMT)

Elliott

 

GBPCAD: (FRI 21 SEP 2018 16:20 GMT)

Elliott

 

AUDCHF: (FRI 21 SEP 2018 15:27 GMT)

Elliott

 

EURUSD: (THUR 20 SEP 2018 20:36 GMT)

Elliott

 

GBPCHF: (THUR 20 SEP 2018 19:58 GMT)

Elliott

 

EURCHF: (THUR 20 SEP 2018 19:46 GMT)

Elliott

 

EURAUD: (THUR 20 SEP 2018 19:36 GMT)

Elliott

 

AUDJPY: (THUR 20 SEP 2018 18:52 GMT)

Elliott

 

CHFJPY: (THUR 20 SEP 2018 18:15 GMT)

Elliott

 

USDCHF: (THUR 20 SEP 2018 17:15 GMT)

Elliott

 

USDJPY: (THUR 20 SEP 2018 17:07 GMT)

Elliott

 

AUDUSD: (WED 19 SEP 2018 21:39 GMT)

Elliott

 

GBPUSD: (WED 19 SEP 2018 21:19 GMT)

Elliott

 

NZDCAD: (WED 19 SEP 2018 01:11 GMT)

Elliott

 

AUDUSD: (WED 19 SEP 2018 00:41 GMT)

Elliott

 

USDJPY: (WED 19 SEP 2018 00:36 GMT)

Elliott

 

EURUSD: (TUE 18 SEP 2018 21:29 GMT)

Elliott

 

EURCHF: SELL (MON 17 SEP 2018 23:42 GMT)

Beandicator

 

GBPAUD: BUY (MON 17 SEP 2018 23:30 GMT)

Beandicator

 

USDJPY: BUY (MON 17 SEP 2018 00:56 GMT)

Elliott

 

EURGBP: SELL (MON 17 SEP 2018 00:39 GMT)

Elliott

 

GBPJPY: BUY (MON 17 SEP 2018 00:39 GMT)

Elliott

 

EURAUD: BUY (MON 17 SEP 2018 00:33 GMT)

Elliott

 

GBPAUD: BUY (MON 17 SEP 2018 00:22 GMT)

Elliott

 

EURCAD: SELL (MON 17 SEP 2018 00:12 GMT)

Elliott

 

AUDCAD: SELL (SUN 16 SEP 2018 23:40 GMT)

Elliott

 

AUDUSD: SELL (THUR 14 SEP 2018 22:13 GMT)

Elliott

Elliott

AUDCHF: SELL (THUR 13 SEP 2018 21:13 GMT)

Elliott

 

AUDCAD: SELL (THUR 13 SEP 2018 21:05GMT)

Elliott

 

CADJPY: BUY (THUR 13 SEP 2018 20:31 GMT)

Elliott

 

AUDJPY: BUY (THUR 13 SEP 2018 20:16 GMT)

Elliott

 

NZDJPY: BUY (THUR 13 SEP 2018 20:08 GMT)

Elliott

 

 

EURNZD: BUY (THUR 13 SEP 2018 19:55 GMT)

Elliott

 

GBPNZD: BUY (THUR 13 SEP 2018 15:06 GMT)

Elliott

 

USDCAD: SELL (THUR 13 SEP 2018 09:48 GMT)

Elliott

 

AUDUSD: BUY (THUR 13 SEP 2018 09:41 GMT)

Elliott

 

USDCHF: SELL (THUR 13 SEP 2018 09:35 GMT)

Elliott

 

GBPUSD: BUY (THUR 13 SEP 2018 09:30 GMT)

Trade

 

NZDJPY: SELL (WED 12 SEP 2018 00:14 GMT)

Eliott

 

AUDJPY: SELL (WED 12 SEP 2018 00:06 GMT)

Elliott

 

CADCHF: BUY (TUE 11 SEP 2018 23:43 GMT)

Elliott

 

GBPCHF: BUY (MON 10 SEP 2018 23:44 GMT)

Elliott

GBPAUD: BUY (MON 10 SEP 2018 23:39 GMT)

Elliott

 

GBPCAD: BUY (MON 10 SEP 2018 23:24 GMT)

Elliott

GBPNZD: BUY (MON 10 SEP 2018 23:19 GMT)

Elliott

EURNZD: BUY (MON 10 SEP 2018 23:03 GMT)

Elliott

GBPNZD: BUY (MON 10 SEP 2018 00:05 GMT)

Elliott

EURNZD: BUY (SUN 9 SEP 2018 23:35 GMT)

Elliott

GBPCAD: BUY (SUN 9 SEP 2018 23:14 GMT)

Elliott

GBPAUD: BUY (SUN 9 SEP 2018 23:09 GMT)

Elliott

NZDJPY: SELL (SUN 9 SEP 2018 23:01 GMT)

Elliott

EURJPY: (SUN 9 SEP 2018 22:56 GMT)

Elliott

EURGBP: SELL (SUN 9 SEP 2018 22:45 GMT)

Elliott

NZDUSD: SELL (SUN 9 SEP 2018 22:26 GMT)

Elliott

AUDUSD: SELL (SUN 9 SEP 2018 22:15 GMT)

Elliott

EURUSD: POSSIBLE SELL (SUN 9 SEP 2018 21:55 GMT)

Elliott

NZDJPY: SELL (FRI 7 SEP 2018 07:11 GMT)

Elliott

GBPAUD: BUY (FRI 7 SEP 2018 07:03 GMT)

Elliott

EURNZD: BUY (FRI 7 SEP 2018 00:55 GMT)

Elliott

EURAUD: BUY (FRI 7 SEP 2018 00:07 GMT)

Elliott

EURJPY: SELL (THUR 6 SEP 2018 23:50 GMT)

Elliott

USDCHF: SELL (THUR 6 SEP 2018 23:16 GMT)

Elliott

USDJPY: SELL (THUR 6 SEP 2018 23:09 GMT)

Elliott

EURUSD: BUY (THUR 6 SEP 2018 23:00 GMT)

Elliott

GBPCAD: BUY (THUR 6 SEP 2018 07:05 GMT)

Elliott

EURCAD: BUY (THUR 6 SEP 2018 07:02 GMT)

Elliott

NZDJPY: BUY (WED 5 SEP 2018 23:51 GMT)

Elliott

EURJPY: BUY (WED 5 SEP 2018 23:01 GMT)

Elliott

NZDUSD: BUY (WED 5 SEP 2018 22:51 GMT)

Elliott

USDCHF: SELL (WED 5 SEP 2018 22:45 GMT)

Elliott

USDCAD: BUY (TUE 4 SEP 2018 23:20 GMT)

Elliott

GBPUSD: BUY (TUE 4 SEP 2018 23:05 GMT)

Elliott

EURUSD: BUY (TUE 4 SEP 2018 22:51 GMT)

Elliott

USDJPY: BUY (TUE 4 SEP 2018 22:27 GMT)

Elliott

EURCAD: BUY (TUE 4 SEP 2018 07:00 GMT)

Elliott

AUDJPY: BUY (TUE 4 SEP 2018 06:50 GMT)

Elliott

AUDCHF: BUY (TUE 4 SEP 2018 06:27 GMT)

Elliott

AUDNZD: SELL (MON 3 SEP 2018 23:28 GMT)

Elliott

EURJPY: BUY (MON 3 SEP 2018 23:20 GMT)

Elliott

USDJPY: (MON 3 SEP 2018 23:07 GMT)

Elliott

EURUSD: (MON 3 SEP 2018 23:00 GMT)

Elliott

SCOPE FOR 22TH AUGUST 2018 (TUE 23:18 GMT):

EURAUD: BUY

Elliott

GBPAUD: BUY

Elliott

EURNZD: BUY

Elliott

AUDCHF: SELL

Elliott

GBPCHF: SELL

Elliott

USDJPY: BUY

Elliott

USDCAD: SELL

Elliott

CADCHF: BUY

Elliott

SCOPE FOR 23RD AUGUST 2018 (THUR 6:18 GMT):

GBPCAD: BUY

Elliott

AUDUSD: BUY

Elliott

EURNZD: BUY (THUR 22:00 GMT)

Elliott

GBPCAD: BUY (THUR 22:30 GMT)

Elliott

EURCAD: BUY (THUR 22:36 GMT)

Elliott

EURNZD: BUY (FRI 6:49 GMT)

Elliott

CHFJPY: BUY (FRI 7:11 GMT)

Elliott

EURUSD: BUY (SUN 26 AUG 2018 21:34 GMT)

Elliott

USDJPY: BUY (SUN 26 AUG 2018 21:44 GMT)

Elliott

AUDUSD: BUY (SUN 26 AUG 2018 21:55 GMT)

Eliott

NZDUSD: BUY (SUN 26 AUG 2018 22:08 GMT)

Elliott

USDCAD: SELL (SUN 26 AUG 2018 22:16 GMT)

Elliott

AUDJPY: BUY (SUN 26 AUG 2018 22:36 GMT)

Elliott

AUDCHF: SELL(MON 27 AUG 2018 6:30 GMT)

Elliot

AUDNZD: SELL(MON 27 AUG 2018 6:45 GMT)

Elliott

GBPAUD: BUY (MON 27 AUG 2018 6:52 GMT)

Elliott

NZDUSD: BUY (MON 27 AUG 2018 23:02 GMT)

Elliott

EURCHF: BUY (MON 27 AUG 2018 23:08 GMT)

Elliott

AUDNZD: BUY (TUE 28 AUG 2018 06:57 GMT)

Elliott

CADJPY: BUY (TUE 28 AUG 2018 06:59 GMT)

Elliott

EURUSD: BUY (WED 29 AUG 2018 06:50 GMT)

Elliott

EURAUD: BUY (THUR 30 AUG 2018 06:55 GMT)

Elliott

USDSGD: SELL (FRI 31 AUG 2018 06:20 GMT)

Elliott

EURNZD: BUY (FRI 31 AUG 2018 06:30 GMT)

Elliott

AUDCHF: BUY (FRI 31 AUG 2018 06:43 GMT)

Elliott

EURAUD: BUY (SUN 2 SEP 2018 23:40 GMT)

Elliott

USDCHF: SELL (MON 3 SEP 2018 00:05 GMT)

Elliott

GBPUSD: BUY (MON 3 SEP 2018 00:25 GMT)

Elliott

 

ELLIOTT WAVE PRINCIPLE


Elliott

Elliott Wave Structure

Technically, the Elliott wave structure is separated into two. We have the five-wave and the three-wave structure. The first phase which is the five wave structure is categorized as the impulsive or motive phase while the three wave structure is categorized as the corrective phase.

Elliott

 

Moreover, the impulsive wave structure always align with the prevailing trend while the corrective wave aligns with the retracement of that move and it moves against the trend. The impulse wave takes on a 5-wave sequence while the corrective wave takes on a 3-wave sequence.

Impulse waves form quickly, especially in volatile markets or when a news is just released. The impulse waves are longer and almost vertical in a structure on the chart. Corrective waves form slowly, mostly in the form of consolidation or range. You can identify wave 1 by finding the first impulsive wave that forms at the peak or at the base of the most recent long wave. Once you are able to identify wave 1, you will be able to count the waves when the market forms a trend.

The entire body of waves 1, 2, 3, 4 and 5 when completed will form the major impulsive wave, (meaning one major impulsive wave must have three minor impulsive waves 1, 3, and 5).

Elliott

Elliott

Characteristics Of Each Wave

1. Wave 1: This wave mostly go unnoticed at the inception of the wave.

2. Wave 2: It corrects/reverses/retrace wave 1. Wave 2 never extends beyond the starting point of wave 1. Prices also do not retrace beyond 61.8% Fibonacci level. It never retraces beyond 100% of wave 1. Most common retracement point for wave 2 is at the 50% Fibonacci level.

Elliott

3. Wave 3: Here is the largest and the most powerful wave amongst the three impulse waves. Wave 1 or 5 can be longer than wave 3, but both waves 1 and 5 cannot be longer than wave 3 at the same time. It confirms the market sentiment and direction of price.

4. Wave 4: It corrects wave 3. Wave 4 usually retraces less than 38.2% of wave three. It can never overlap wave 1. The low of wave 4 cannot drop below the high of wave 1.

Elliott

5. Wave 5: This wave is the last wave in the direction of the market trend. It is used to identify indicator divergence.

Elliott

6. Wave A: It is an impulsive wave and it is also a corrective wave for wave 5.

7. Wave B: This is a corrective wave for wave A.

8. Wave C: This wave is an impulsive wave and it is also a corrective wave for wave B.

9. Wave A, B and C represents the trend continuation for wave 1 to 5.

How To Apply Elliott Wave To Trading

-Loading the Heiken Ashi indicator on your MT4 chart to filter noise in price movement.

-Looking out for a good entry point for your wave count, especially when price appears to have bottomed out or is at the peak is important.

-If you enter your trade at wave 2, then placing your stop-loss at an area beyond 100% of wave 1 is key (note that your wave count is wrong if wave 2 extends its retracement beyond 100% of wave 1).

-If you enter your trade at wave 4, then placing your stop-loss at an area beyond 38,2% of wave 3 is vital (note that your wave count is wrong if wave 4 extends its retracement excessively beyond 38.2% of wave 3 or beyond the swing side of wave 1).

-Wave 3 is usually longer than wave 1, and entering your trade at wave 2 is most ideal.

Elliott

Elliott Wave And Fibonacci Retracement or Extension

Elliott

Learn To Always Lock-In Your Profits

Caution: Forex trading is risky. It is advisable that you acquire enough experience before you start to trade with real money. Do not invest in money that you cannot afford to lose (it is important that you study leverage, lot size, and money management in Forex trading very well before you execute your trade decision).

To trade in the Forex Market you must first sign up with a Forex Broker. There are lots of Forex Brokers out there that offer good service to their clients. Services include tight spread, partnership amongst others. My preferred brokers are 1. Alpari (https://alpari.com/en/?partner_id=1244646) and 2. FXTM (http://forextime.com/?partner_id=4806145). You may sign up through any of the partner links above. You may also send me a mail in case you need me to guide you on how to sign up and start trading (beanfxtrader@gmail.com).

One Reply to “ELLIOTT WAVE PRINCIPLE”

  1. Some really nice and useful information on this web site, also I conceive the style and design holds superb features. ddeeadkfaeec

Leave a Reply

Your email address will not be published. Required fields are marked *