S&P 500, NASDAQ 100, DAX 40, FTSE 100, ASX 200: Elliott Wave Trading Strategies

welcome to trading lounge and the indices and no change in the count so with the S&P here we're looking for way four to wave five up here and we're looking for five waves within that particular structure so from the weekly we break it down into the daily and as mentioned we're looking from wave four here to wave five to the upside here in five wave so we have uh Wave 1 and two and 3 four five and pay no attention to the actual price points over here or the actual time that it will take for that it does appear that the the elections will be around that time there as well um our main focus though is from this low to wave 1 here being in five waves so we want to break that down into the intraday here and let me just get this into the frame here and we've got a few extra little dudes on the side there so we don't need those um so way four here we' got one and two and then 3 four five like I say pay no attention to the price or time that's going to take at that point we can do ratios it's not not a problem um it's just much safer to track the actual wave structures themselves because sometimes they extend sometimes they there a slow burn and they can track a lot and all sorts of things sort of happen with the personality of the wave structure from wave two to wave three here as you know we're looking for wave five waves of one and two and I think we can call this top in here now as wave three and we're looking for wave four that can pull back to the wave four of one less degree as I mentioned uh yesterday and probably the day before uh when we're working with ones and twos they're pretty sort of simple now we're getting the uh we past this is the halfway of the structure from the low to the fifth wave of one here this is the halfway mark and we got one and twos and now we're going to be in fours and fives here this is where we make mistakes so in wave fours we make mistakes I make mistakes I get it wrong where there's a dozen different types of Corrections that can occur in these particular uh patterns so the thing is is that what we can say is that we will be going to the upside it will be time consuming it will be a slow burn to the upside uh what you see here is not what you get next so will be in some more sideways corrective moves at this at this point so one thing that we sort of know is that if we just take the low of wave two here and take that to the top there just roughly then we know that 38.2% here so we know that the worst thing that could possibly happen is we come down down to the 5,500 now that could be um that could be this way for it could be this way for uh that's that's the worst that can happen so we know that we're going to be going into corrective patterns we know this further to the upside we know that it's a slow going to be we're entering a slow burn and sideways corrective patterns so things we know and what we don't know so breaking this down further and uh to 1,000 ticks uh here we're considering this just coming back here a little bit while Blue Wave 1 Blue Wave two here and 1 2 3 4 5 to the upside here uh as wave three here I have made a few little adjustments here now I could put this here by the buy and put this in here as an ABC pattern in here for for this wave four here but we could also see it as uh a B wve over here and uh well I could put the a wve here I could probably it does I I could probably put this over I can get five waves out of here I was looking at the um the oex on this so the oex is the um uh is the um the S&P 100 you know so uh yeah so I was just looking at this here I can get one two 2 3 4 5 down so I can get I could look at it's quite clear that this is 1 2 3 4 5 coming down here so I can go an a and a b and a c and put a low in here and I can count this as five waves to the upside but this could also be an an a wave an A and A B and a seawave here so uh it can drop down to a um it can drop down to a lower level here so this range here this wave four can pull back down uh into this here and uh if I have a look at the the upside here that would put that at um that would put that up to this this range up here for that um yeah so anyway the oxe the uh S&P 100 uh can be handy in in uh in looking at uh at these type of um uh things uh here for this I just checking the AI here for this yeah not to worry too much um yeah so basically we can still come down here this is probably the worst that will happen coming down to the Wave 4 One lesser degree on the S&P here so I'll do the NASDAQ the same as well so on the NASDAQ here we're looking at on a weekly chart wave four here going up for wave five and uh yeah so on the daily chart here we're looking for five waves up there so this will be the same here as well so we got 1 2 3 4 5 up here we're looking for five waves in this particular move here so we're going to break that down into the uh intraday here picking it up from that particular low Point here what I'm going to do here is I'm going to bring this over to here and this over to here and I'm going to call that top in here now obviously as I mentioned before this is where mistakes can be made um but the main point here is that um that you know that we're going going into corrective areas but at the same time you know we're also going to be moving higher in all of this as well this trend to the upside is not completed um but these wave fours here are going to be uh this can pull back to the wave four of one lesser degree or it can pull up here a little bit higher on this so it'll be something like this here so it's just going to get very complicated in here so if you've made money in this trend here then this is where you're going to lose it in in all of here the trade that we really want will probably be after the elections of the dust settles and but we'll see where that is you know we don't I don't know that just yet but this trade here this third wave here this is really the one that we want this is our next you know this is the money the money shot as I would say um all of this here is going to be complicated you don't want to get destroyed in any of this when you get into areas like this it's it's a good idea to just trade so if you normally trade you know five contracts or whatever cfds or futures or ETFs or whatever just trade less just you know drop it down to a half or third or find another Market or something uh from here we'll go into the 1,000 tick area here so I won't go into the bigger picture too much so we're looking at possible wave three being in place here on this top and once again the good news here is we can clearly see that this particular pattern here is corrective in nature so it's not like a serious top and we could look at this as an A and A B and A C over here I understand that we could look at it as one and two to the upside I get that but um I think it's best to give the bad news first the worst you know and hope for the best that type of thing so that's sort of where we are here um and yeah I mean I just sort of expect this to you know there should be some sort of relationship between the length of this one here and the length of this one here so it be down here uh at some somewhere at that point and then this whole pattern we've been looking at can be transferred over to other markets now the ETF here on the Russell uh can be slightly different um I could also push this up to here which is not such a bad idea so a little bit sort of tricky in here but in the meantime we can look at this as a way for it's either this wave four or that wave for here I've just tied it into the other markets at this point um it can obviously come down and test that there as well but uh we're going to take um profit uh up here on this fifth wave here somewhere now I know that we could put this third wave over uh Over Yonder here for this which is probably the right thing to do um in fact I think I might even just do that while we're here because it's just got a different wave structure than the other markets I mean not it hasn't got a different wave structure it's just that um what I need to do basically is tie it into uh I need to tie it into a wave one up here and a wave two here but it's not the same wave one and two as the other markets but it will be same same it'll you know we follow the same patterns so um anyway this will be about here somewhere that's where this demand is so it'll be something like this but yeah I think we'll take the money off around this this particular top here for for this and that way we W get caught into this but we got a nice series of one and two one and two one and two a nice third wave and it helps confirm the third wave with a little Gap in it as well so that's nice and we come over to the euro markets European markets and we're looking at the um the Dax here on the daily chart and we've got way four here and the same as the S&P we're looking looking for five waves up of one and two and then 3 4 five up here and uh obviously we can see the market pulling up into these you know into these old highs over here so we know that it's uh you know it's hitting Supply there Supply just meaning Sellers and we can also see here too in terms of Elliot the one and two and one and two and a strong third wave here so we're just going to be in fours and fives over here for all of this you know so let's pick it up on the um on the 1,00 tick here so we're just really drilling into the intraday here but that's the wave four low that we just we just view then just here so we're looking at one and two and one and two and we're also going to call like the S&P the third wave in here this Blue Wave three so that's our wave one up there we got one two three four and five for this wave one wherever that may be and then between two and three we're looking for five waves of one and two here just expand that out so from wave two here we're looking up to wave three here with uh 1 2 3 4 5 I could push that across there as well I guess but so um yeah so we could drop a little further here too if we take this wave two low and this one here the 38.2% is down here further so it's quite possible for it to drop here further I think we should sort of expect something like that but I can see we got this as an A and A B and A C here but and the way for one L A agree is is here as well so I don't think we'll be going too far but I think we should expect something a little bit deeper in that point uh at that point there but also too um we're going we're not going to take profit on this just yet we probably won't ride this way for out but um we'll ride this one out so we'll leave the stop out of the way and uh we can look for some type of um you know little correction here to come into play I'm just giving the sort of worst case scenario but we'll look at uh taking part profit um up at this um this one here and then we can look to be taking profit on the other one up here if you want to burn that out if you're holding cfds it's okay to hold through this one not so much this one you know it's okay when you're in a nice Trend like this you you know you're you're uh you're you're doing okay but uh overnight financing uh calculated daily uh is compounding and uh the costs are quite High even though they don't you know the cfd providers don't show you that you know compound interest at the uh as it as it builds and they just clip your ticket so um yeah something that you need to keep an eye on um but that's where the Dax is so it's all pretty simple and then the foots is the same as well so if we can look at the footy in terms of this wave low this wave four here and uh same as the S&P and the other markets one and two and going up for wave three over here somewhere and then wave four and wave five up here for wave 1 and then back for wave two that can be you know quite come back further than this what we'll work that out um but in the meantime from 2 to three here we're looking for five waves so we've got uh wave 1 and two and now we've got wave three in here and uh wave four so we could also have a look at that I don't think that needs to come down much further actually it looks like it's about where it should be at the 40% Mark there roughly yeah 38 here so we're kind of where we are but it does look a little bit um a little bit impulsive coming down so I mean obviously we can come down a bit further uh the worst sort of thing would be something probably on the 82 here and then we'll sort of move up at that point that's okay I mean we could get an A and A B and A C out of this but we did also make a new high here as well so yeah and we're going to bring the wave three in so it's a little bit sort of scary with it moving down like that but the wave fours should break the trend line off the Wave 2 so it's doing all the right things it's where it's supposed to be at the moment how that finishes off I haven't had time to pull that apart here but I can see there's a beginning a middle and an end uh so we may get a little ABC pattern out of this it get a little bit ugly but like I said these way fours you know told you they'll coming they're coming they're here and they're doing their job and um that's that really and the Aussie Market uh same thing as well if we look at the uh the way for here and this has also got the same count pretty much as the US market because the ASX is governed really by the Banks they do more volume and when we look at uh our our our banks are um uh pretty much moved with the US Bank so if we're looking at CBA here for example we can look at wave three and four here and we're going up there as Wave 1 and two and three and four and five up here here for one and then a nice big correction here so you know uh we're doing this is CBA and the ASX 200 is doing the same thing here uh the US banks are on the same pathway that's connected you know everything's kind of connected starting with interest rates um so yeah so that's that really so in this case here we've got wave four and we're going up in five waves one and two and then all the way up for three four and five pay no attention to these price points or time and all the rest of it um and then from between two and three here we're looking for five waves of one and two and three four and five up here for that and then in here we've just finished 1 2 3 4 5 for one and two and got 3 four five here I'm going to tie that in here I know there's other counts you could play out here as well but it's best if I tie things in here now this is also it's at the 8,000 here so we could also look at this as a classic trading levels pattern occurring here so we've got the arrival here the reaction the first high above the level an ABC pattern and then going up here again um so this here I'm not sure how this is going to play out here one thing that we can do though is we can look at this here and the 38.2% is here so we could view this as a little a b and c pattern coming into play here so that's uh um that's that obviously if you were trading up you would want to be taking some something off at the 8,000 you know uh eight is the third strongest number but anything with a lot of zeros on the end is going to be you know attract large orders so that's that all in all so thanks for tuning in cheers