Screenshot 2023-10-14 at 05.40.26

Last post gave one an overview of my SoonPeso7 interpetations. Now..One can start counting the last wave down. New low then a fourth wave that comes back to the yellow, then a fifth wave of at least 618 of the fourth wave, or just a barely a new low for a turn point. That will start a long C wave up which has a 12345 pattern to channel.

Screenshot 2023-10-15 at 10.01.04

Last in a series to understand the tools I ue, and foundational principles used.
That last few posts SoonPeso7 has been summing up his understanding of the markets. How SoonPeso7 adapts Elliott Wave Principles into a KISS method. Silly instructed on counting waves, and fibonacci usage and now lets talk about lines. Only tools SoonPeso7 uses. I have tried many and do love Awesome Oscillator, but not needed, so I quite using it. Let me mention that there is a famous song and the lyrics go like this: “Signs, Signs, everywhere there is signs…can’t you read the signs”. One needs to ask themselves about trading or life in general, “can you read the signs?”

The signs I use are Silly Wave Principles, a shortened version of Elliott Wave Principles; Fibonacci, and Lines.

In trading one starts with your lowest chart usage to create patterns and go to larger charts. I have been instructing from the higher charts to the lower charts. The principles are all the same. So here is how SoonPeso7 see what the signs are saying.

Upper left one can see there is two major points on top. I draw a line from the two high points and attach it to the lowest point in between. The market will go there before turning. Here it did not just touch, but when beyond. That is the first sign that this market may not be as robust as SoonPeso7 would like to think. Keep that in the back of ones mind. Failure is anything from going back to wave 2 or b to just barely a new high or low.

Next lower left hand chart shows a channel up. When the channel is broken, a new trend has started. One may say this is an intermediate trend within a larger trend. I am looking for the market to touch the yellow line again to turn. So whatever count SoonPeso7 claims it must be with that in mind. Let us look at the low on this chart. That is what happens when wave c, not shown, put labeled as wave 4, but c fails, and then a fifth wave fails. Three hours it is over and established a trend ended and new trend is on.
1.618=1618 is usually a major turning point. Either one is going to see a 50-1618 correction.

The other two charts on the right is a smaller wave and counting down. Targeting 1 around 4333 for a turn point. If the market would go to purple line first then the line, 4333 is nullified. This is a larger wave 2.

Screenshot 2023-10-16 at 01.06.14

The upper right chart channel has changed and destination turning point has changed a bit. 4394 abouts. then finish this larger yellow wave B pattern. 4310 area.

Screenshot 2023-10-16 at 09.00.28

Targets were hit and no bottom bar violated to sell on. The robust nature of today will leave me long, assuming for now wave yellow C is in progress.

Screenshot 2023-10-16 at 14.30.06

When the market blasted thru the expected turn point there is only one thing to do. Hold on to the trade. Markets some times do turn abruptly, but not a high percentage trade.

Upperright chart, the green line needs broken or much lower is very possible. The dashed purple line on bottom, has two touches in the middle where the market turned. That has now become very strong that the market has to violate.

Lower left chart. Has two lines on the bottom. Mainly because I have not determined the channel it needs to operate in. All looks well, but higher is required to give confirmation, or denial. I still hold long. Even though I got in late, instead of at the turn point. I did not notice some the new line that does not happen often, and therefore more confirmation to change opinion.

In a good position to see more wave patterns to determine if there is a change. Wave C as suspected will go much higher, if wrong SoonPeso7 will need more confirmation. Going below wave four 4385 would be indication wave count is off. Most recent concern is the lower right chart, word impulsive, That wave appears to be impulsive, seeing only a four wave. Is it a fifth wave failure? or just a smaller wave 1? Hoping it will be confirmed soon with a new high.

Screenshot 2023-10-17 at 05.37.37

That should be wave 1, but could be a wave yellow C failure. Most likely wave 1. Wave 2 will be at the line and 618 destination. This being a wave 2 correction it will be congested as it has been throughout the night ending in an impulsive wave c to target at the line and 618. Be careful.

Screenshot 2023-10-17 at 13.16.12


I want to look at lines. The white line going up gives us the pattern, abc. So the low mentioned in last post is only an -a- wave and up was a -b-wave with a new high. Notice the red line down, and one sees a 12345 pattern. So the label has to be an impulsive wave pattern label. In this case =c=. No I went to sleep and woke up about where I went to sleep at. Took profit. Got long lower. Looking for an 12345 pattern for the larger wave 3.

Hello @silly,

This is @Oracle from NexusFi, here to provide you with a brief analysis of your trading pattern.

From your entries, it's evident that you are an experienced trader with a sound knowledge of wave theory, technical analysis, and Fibonacci retracements. Your attention to patterns, trendlines, support resistance levels, and consolidation signals that you are attentive and analytical in your approach.

However, there are areas where you might want to reconsider your strategies.

Stop-loss: It's concerning that you sometimes remove or alter your stop loss. This can increase your risk exposure significantly and could lead to substantial losses. Preserving your capital should always be a priority.

Emotional control: Trading decisions should be based on analysis and strategy rather than emotions. It's essential to maintain a level head and stick to your trading plan.

Trading performance analysis: It's unclear how your trading strategies are performing as there is no mention of your overall PnL breakdown, win rate, average win, or average loss. Detailed performance metrics can help you evaluate your strategies and make necessary adjustments.

Wave counting: You mention the importance of counting waves accurately, but there's no mention of how you handle miscounts or errors in wave counts, which can be inevitable at times.

You're doing a great job, @silly. Remember, trading is a continuous learning process. Don't hesitate to refine and adapt your strategies in response to market changes and personal performance. Please provide more information on your trade performance, and how you handle wave count errors for a more detailed analysis.

Best regards,
@Oracle

Screenshot 2023-10-17 at 15.44.01

Corrections require one to be involved almost everyday. Lower Left chart is congested going up. Therefore this Wave c' is not over. The green lines show boundaries. It just touched 50' or percent to full fill wave two requirements of the c' wave. If an extended wave it is very possible back to the yellow wave YB'. Might get a little more height. Doubtful, but this pattern could also be an 1-2' 1-2' pattern, that requires being robust from here on up.

Screenshot 2023-10-18 at 05.46.23

next turn point and should give a good run. Today the corrective C' wave should turn around 4364 area to make new highs. Corrective waves are congested