This blog aims to teach traders how to use Elliott Wave analysis in their trading. A variety of markets are covered to demonstrate that the principle works just as well in any of them. Whether you are a short term trader, or a medium term investor, you will find that this approach will add considerable value to your bottom line. Everything in this blog is for free. Every chart presented was done with a forward looking approach. Wave Times is different because I make no pretense that I know it all. However, I do know that a trader can make sensible trading decisions by using these techniques. Go ahead, and check it out yourself. These comments reach a few thousand enthusiasts. If this is your first time here, welcome aboard.
Today, I present you with a quick chart of the Dubai Stock Index. I am giving you a clue. Because the 2 impulse waves are normal, the fifth wave could potentially become an extended wave. However, you should also relate the current impulse wave to the measure of the prior impulse wave to see if you can find some relationships. Go ahead, and test yourself.
Best of luck.
Thanks for the chart for dfm, a market that I follow.
I only notice the wave numbered “1”, its intenal waves are overlapping with each other. That make it difficult to give it 5 wave internaly with each wave 2&4 not overlapping.
Hi Fadel, when wave 1 develops as a leading diagonal, there will be overlaps within its subwaves.
wave (3) is the longest implse wave . therefor wave (5) approximates wave (1) .Wave (2) is flat, Wave (4) is sharp. target will be around 2050-2060.. correct me if am wrong : )
mr. ramki …dfmgi reach today (high point) 2200!! any correction coming ahead?
It might be time to revisit the DFMGI, been a while 😀
I see a complex correction in Wave II completed in the DFMGI
Flat in the Wave A or W
Irregular Wave B or X
Zigzag in the Wave C or Y
If I followed the FWTFF correctly then the timing and the retracement of this Wave II has taken longer and deeper of the Wave 2 and Wave 4 of the previous Wave I.