Elliott Wave Simple

I am starting this thread to show how simple Elliott Wave Theory can be.... Most people say that it is too complicated to use, and I disagree with that..........I will start by showing some labeled charts with an explanation....................I live in the U.S. and work for myself, so my time is limited..............I will do what I can,,,,,,,, and hopefully someone will benefit from my posts............

Good Trading Everyone,
JahDave

I am starting this thread to show how simple Elliott Wave Theory can be.... Most people say that it is too complicated to use, and I disagree with that..........I will start by showing some labeled charts with an explanation....................I live in the U.S. and work for myself, so my time is limited..............I will do what I can,,,,,,,, and hopefully someone will benefit from my posts............

Good Trading Everyone,
JahDave

I will also start at the beginning by saying that noone can use Elliott Wave Theory as a trading system................... It is very good as a long term indicator, and if you get very proficient at it then you can use it on the 1 and 5 minute charts accurately.............If you just gain a general understanding of it then it will serve you well on the longer time frames..............

I am starting this thread to show how simple Elliott Wave Theory can be.... Most people say that it is too complicated to use, and I disagree with that..........I will start by showing some labeled charts with an explanation....................I live in the U.S. and work for myself, so my time is limited..............I will do what I can,,,,,,,, and hopefully someone will benefit from my posts............

Good Trading Everyone,
JahDave

Here is my first post here with the EUR_USD on several time frames.............The hourly Euro/US Dollar looks very weak and the Euro_USD looks even weeker....................I would say that the odds are high that the USD will be gaining strength this week. Attached are a few charts...

The most basic form of Elliott Wave Theory is this........................If a move down is strong then that is the trend,,,,,,,,,,,,,and after five waves down then expect a 3 wave move back up....................This premise is very simple and can apply to almost any trading method......................All of my charts have the TRIX and Fractal on the Charts.....................I do adjust the time periods for whatever time frame I use, but this is my most relied upon indicator...............I count Elliott Waves from this indicator.............I am attaching the 5 minute EUR_USD chart here and the TRIX/Fractal says buy..............I would think to sell right now but I am buying short term because of the TRIX?Fractal...............