07th August

New Positions:

• CHFJPY long

Closed Positions:

• E-Mini S&P 127 Points
• AUDJPY 850 Pips
• AUDUSD 400 Pips
  

Have a look on both e-mini s&p screenshots:

• The first one has only a TS4 signal because the initial wave was caluclated from the extreme bar on the 5th of june, "only" 80 Points Profit
• The second one has a nice Ts3 signal because the initial wave was chart calculated from the 15th of june (using both contracts june and september), this one has archived 127 Points today at the 3rd target

Conclusion: Elliot Wave is just a concept no sound trading system, if prices are falling this much, people are willing to buy with this much back. The time when prices are really falling and when they have reached an extreme can not be clearly identified buy looking at daily high and low prices of one instrument. The volume plays an important role when identifing extreme swing points. Therefore make sure you always make your analysis with a chart that has the highest volume on EVERY bar.