MoneyEngineer

MoneyEngineer

Left hand Count: As I have mentioned before, I do not favor Triangles because they are rare and they imply the bullish trend is coming to an end. In the case of this count it is under developed but still valid so we will keep it here for consideration. Right Hand count: Wave C in flat type correction usually have strong momentum, so this slow trickle down that...

MoneyEngineer

Left hand count: Hi guys, so we are in another choppy correction where the flat correction or triangle are on the table as options. The triangle idea is under developed but I will have it here until it is not valid any longer. If we get a slow contraction that will add up to a triangle it will be one more bullish push up followed by a large drop for a correction...

MoneyEngineer

Left hand count: I mentioned fundamentally yesterday that Iran was a concern for the bulls, and low and behold they seize two UK tankers and sink the dow. So on the bullish side of things i see this as another simple zigzag correction that will continue much higher. Hence why i am only counting this as impulse and corrections rather than trying to label it as...

MoneyEngineer

Hey guys had a bit of a tough week, but i am back now. Left Count: I am still forecasting that we are seeing a development that is far from over so we just need to buy the dips and that worked out well yesterday after that correction. So when u see small pullback that seem corrective just buy into the trend and we will forecast this when more data is given to...

MoneyEngineer

Happy monday traders! Lets start this week out by taking a look at the bigger picture. Left hand count: This count is the one where we do not assume the ending of this rally, but rather we identify small sub corrections in the larger scheme of things and just take the small rallies up. If this is to play out it will not retrace more than the 61.8% that i have...

MoneyEngineer

Left Hand Count: So we finally got some direction, the triangle is off the table now so the next best perspective to consider is not knowing at all. Go back and look at prior bull runs on the DJI history, can you imagine how many technical gurus were forecasting the completion of the structure when it was YEARS from even having a decent correction. This is a...

MoneyEngineer

Left hand count: The triangle just keeps becoming more and more real by the day, I will be looking for pullbacks for entry. We will breakout of this bull flag very soon. We are in wave E in the triangle idea so at the end of wave E expect a very swift impulse upwards. Right hand count: The flat idea is finally invalidated, so I feel a bit more safe buying this...

MoneyEngineer

Left hand count: The triangle idea to my surprise is having some merit, so I will follow it closely and if we do get a contraction of price it will be a really nice break out trade to the upside. Shortly followed by a sell off. So well keep an eye on the development. Right hand count: So wave C in flat type corrections are usually quite strong, so the slow...

MoneyEngineer

Left hand count: So the bulls did not come through for us yesterday, i personally took a small loss because i got excited and got in without confirmation. So the bull count is pretty much invalidated at this point, so the next idea would be a triangle. Triangles in Elliott Wave are rare, so this is not the most probable scenario, but for the sake of having an...

MoneyEngineer

Happy monday traders! Lets make this a profitable week with Elliott Wave! Left hand count: Currently this is looking most probable given the choppy move down that came after the strong move up at the market close last friday. So this move for the buy idea can be approached in two ways, one being market execution and faith. The other being a pending buy stop order...

MoneyEngineer

This is the picture of the count at the next higher degree, on the left hand side we have a bullish possibility where we buy the corrections. On the bearish side, there was a move down that was quite strong and this current move upwards seems impulsive, but i have seen fake impulses before. So the key here is to monitor its correction over the monday Asain...

MoneyEngineer

Left hand count: Every little sub correction is a great buy opportunity, yesterday we only got 1 due to 4th of july being a holiday. So where do we stand now with regards to Elliott Wave, for this bullish count we can be in a wave 3 of a primary wave 5. (Look back at my primary count if you are confused). The biggest mistake in Elliott Wave is labeling charts as...

MoneyEngineer

Left hand chart: The bulls have been getting the better of the dow and there were 3 great day trade opportunities yesterday. Another small correction is forming now, could be a similar move to the prior one. I will just look for small buy opportunities and ride it all the way up. Right hand chart: So the expanded flat idea is now on the table, and the A vs. B=...

MoneyEngineer

Brutal day of trading yesterday as the move was unfolding it was one whip lash after another, one of the many joys of trading corrective waves. My bias is more bearish because the move up was corrective, so my right side count is my preferred. I will update the left side count as soon as it plays out more. The only valid count on the table in the moment is the...

MoneyEngineer

Another day another dollar living the dow-mageddon life haha, so what a great day of trading yesterday! Caught the sell off to close the mt4 gap we talked about yesterday, despite the "geniuses" on the news screaming stock market rally. Look at yesterdays fundamental news on the dow, it is all bullish but yet the dow dropped hard.. There is no such thing as news...

MoneyEngineer

Left hand count- At this point this count is my preferred, The dow opened up with a gap on mt4 but the gap does not show on tradingview, so i wont count on the reliability of the gap closing. Because if the mt4 gap closed it would verify my bearish count. So in Elliott Wave when we have two possibilities on the table still we go back the counts reaction to key...

MoneyEngineer

Left Side Count: We can observe that the triple combo (wxyxz) has completed and now we are looking for buying opportunities to the upside to break the all time high this week. So the game plan is wait for sub corrections and take day trades to the upside. Right Side Count: This count is a classic example of a bull trap, or in the words of Elliott a Flat...

MoneyEngineer

This will be a showcase of how to use high level Elliott Wave Analysis to beat the market, I will exclusively follow the US30 and post daily updates, forecasts, and analysis. If you have ever heard of Elliott Wave but did not know how to apply it. This will be a great follow along series to show how Elliott Wave counts transform, and how you need to flow with the...