Comment by Dimitar Kinov on February 11, 2012 at 6:06pm

Very nice it looks. But for me the problem with these figures is that they are separated from the wave structure. See for yourself - a strong move upwards (it is unclear to what wave). After much respite 5 waves up. Immediately formed a reversal (abc down (point A) and point B is a higher order. Additionally, it occured at the 88.2% fibo. That suggests the end of the upward movement. Occured a strong downward movement but without breakdown (end of wave 5 in C). This downward movement ended (ABC higher-order). can buy - we have just tested the penetration level. For this analysis does not need a butterfly.

Comment by kor4x on February 21, 2012 at 8:03pm

Elliott fractals are so complicated. I found my grail with harmonics and simplification of the methods. harmonics offer you short SL and big TP, and yes, they include the multi timeframe chart analysis.

Take a look at confirmations that can be used in Harmonic Trading: http://tradingarsenal.com/gartley-pattern/234-gartley-pattern-table...

I like to use Elliott Wave as a confirmation, but just very simple Elliott fractal.

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