Elliott Wave Analysis of Singapore Dollar USDSGD

As many of you are aware, I offer a consulting service at WaveTimes.net. Occasionally I share some of those cases with you to help you learn Elliott Wave analysis. The following is a consultation I did with a trader based in Singapore who wanted to discuss the outlook for USDSGD. Please note that wave counts are always a work-in-progress. While it worked out as anticipated at that time (the analysis was done on October 14, 2015 when USDSGD was trading around 1.3870) the outcome from the current levels needs a fresh look.

Establishing the broad big picture in USDSGD from an Elliott Wave stance

Establishing the broad big picture in USDSGD from an Elliott Wave stance
Establishing the broad big picture in USDSGD from an Elliott Wave stance


Figuring out weaknesses, if any, in initial analysis

sgd14Oct15b

Considering alternative wave counts and deciding which is appropriate
sgd14Oct15c

Using Fibonacci Ratio Analysis to validate our wave counts
sgd14Oct15d

Seeing if we are consistent in our approach
sgd14Oct15e

Fifth Wave target using methods taught in Five Waves to Financial Freedom – Elliott Wave book

sgd14Oct15f

Illustrating how each impulse wave is made up of five sub waves
sgd14Oct15g

Showcasing the ‘fit’ of the waves in the bigger picture – Elliott Wave structure

sgd14Oct15h

Fibonacci Ratio Relationships work even within sub waves!
sgd14Oct15i

Elliott’s principle of alternation
sgd14Oct15j

Detailing the finer aspects in intra-day Elliott Wave charts
sgd14Oct15k

Anticipating ending points of USDSGD in the near term

sgd14Oct15l

Formulating a recommendation considering potential moves
sgd14Oct15m

In case you are wondering how it turned out, well here is a screen shot as of today, with the key turning points after 14 Oct marked out for you.

Elliott Waves do work in USDSGD as can be seen here
USDSGD26Dec2015

I hope you enjoyed the learning experience in this post. It will be great to see this shared with your friends in the market place. Best wishes, Ramki



12 Comments

  • Umesh Kamath

    Dear Ramki

    Great to see such elaborate analysis and brilliant display of Elliot Wave in action!

    I seek one clarificaioon on sub wave inside blue wave (3), the correction post completion of this sub wave (i.e. after black wave 5) appears to be shorter than wave-2 of that sub wave both in terms of time taken to complete and depth

    Thank you
    Umesh

    • Umesh, Assuming I understood your question correctly, notice that the blue sub wave (4) , while shorter than black sub wave [2], is still longer than black sub wave [4]. It is enough if it exceeds the length of ONE of the two corrections that preceded it.

  • Alex

    Hi Ramki, thanks for sharing your research 🙂

    I read your book twice during Christmas and tried to summarize it into an rule sheet – one learns better while writing down than just reading.
    All seems rather clear in your examples – if only I wouldn`t get lost in blank charts.

    • Alex, I understand perfectly what you say. I still share the same fear when it comes to calculus. I guess the solution is to abandon the fear, and start trying it out without investing real money. Then, as you gain confidence, you can venture into the real world. Remember, there is a lot more fun when you are ‘anticipating the future’ instead of merely labeling past moves. Some people enjoy trying to find ‘ mistakes’ in others’ works, which is even more fun to read. But the real joy is when you anticipate something and it turns out fine. Keep a record of why you expected a certain movement and compare it with how it turned out, that will be a great learning experience too. Best in 2016

  • Sujay

    Thank you sir for sharing such real life examples using EW. Though I don’t trade any of these markets but its good learning experience along with your book. Thank you again!

  • Umesh Kamath

    Thank you Ramki

    Yes, thats what i meant to ask and thanks for clarifying

    Kind Regards
    Umesh

  • Prabh

    Ramki Sir,

    Wishing you very Happy and Prosperous New Year – 2016.

    If time permits,will it be possible for you to provide wave counts for one of Indian stock – Amtek Auto Ltd.Lowest point of this stock was way back in 2009 and while we thought new Impusive Wave has started,this started recently made a new Low after touching high of 274 in mid of 2014.

    Now personally feeling very difficult to give wave counts for this stock and hence would urge if you provide your expert comments for this stock as we all know you make things look so easier and accurate with your experience and skills which are highly valuable.

  • Piyush Goyal

    Sir, Great article illustrating, how to reach the best possible count.

    I always wonder how/why, such an uncertain market follow Elliot rules of 5+3. Can you put some light on it.

    Thanks,
    Piyush Goyal.

    • Piyush Goyal

      Sir,

      I was analyzing Nifty chart and coming down from Daily to H1 to M15 to M5 & finally M1 chart I was surprised to see that nifty actually started following my calculation. I am very exited with this and request you to please share your post on Nifty Chart (if possible H1, M15 charts) for boosting my learning experience.

      Regards,
      Piyush Goyal.

    • Piyush, that is a mystery to me too!

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