An example of EURUSD analysis using Elliott Waves

Elliott Wave analysis works on all time frames. Here is an example of how I used the daily, hourly and 30-minute charts of the EURUSD to recommend a trading strategy to several of my clients back in September 2017. Why am I talking about that now? It is because the headlines I read just now in Reuters says the currency pair has a year-to-date low versus the US Dollar today. If you are involved in the FX markets, and in reasonable size, you might wish to consider discussing your position with me. However, the goal of this post is to showcase how I approach the markets. This forms part of this free blog being a ‘living book’, an extension to “Five Waves to Financial Freedom“.

You may download the full report that I sent out to my clients in September 2017 from this link: Elliott Wave Analysis of EURUSD 26 Sep 2017.

The following chart shows you how it turned out.

Elliott Wave example of EURUSD
Elliott Wave example of EURUSD


5 Comments

  • Vinod

    Well i think wave 2 was flat so wave 4 was sharp. And i am confused with internal wave of wave 3 please mention them.

    • Ramki Ramakrishnan

      Vinod, at any point in time, one can count waves in different ways. So your success depends on how you use your own count

  • subhan

    Hi Ramki,

    Thanks for this Literally living book of your great book, This blog is a live proof whoever have any doubts about Elliot or all that you taught in your book. This blog is as helpful as you book has been to me.

    Just one question where had you placed or is there any guidelines on how to place stop loss for Wave 4 as in the case of this trade.

  • Henry

    Hi Ramki, can you explain me why wave 3 is too long and how you decided that wave 3?

    • Ramki Ramakrishnan

      Henry, There is no mechanical rule for determining wave counts, and there is no limit on how long a third wave can go in relation to wave 1. The only rule is wave 3 cannot be shortest of the 3 impulse waves, and of course, that wave should have 5 sub waves So it comes down to making a judgment.

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