Hi everyone. I would like to thank readers for the overwhelming response for my book “Five Waves to Financial Freedom”. In case you have not already received the special update, please read the following post: “Five Waves to Financial Freedom” is a living book. If you have already received your copy, there is no need to write in again, because this is the same update that you already have in your files. Best wishes. Ramki
47 Comments
Dear Ramki,
Thanks for your living book. İ have been making use of your book for 3 months. My trading attitudes changed substantially.
Although i sent a reply for your special update email i didn’t have any return for the copy of update.
Thanks for ur attention
HI Osman, PLease check your email again!
Dear Ramki,
thanks a lot for your wonderful book and your regular analysis on various asset class
I get to learn lot of things from you
can you please update your count on Copper, as it is giving wild swings these days
thanks a lot!!!
– ajay
Hello Ramki,
I just bought your book yesterday and finished it this morning and looked through some of your posts while going through the book. As you say, I’ll be going back through the book. Many of your explanations and applications are easier to see than what was in Mr. Pretcher’s book and you give some rules for application that should be easier to apply in real time.
I am curious about how different waves fit together and build into the next higher wave pattern.
This post looks at a specific example – the Aud/Usd. After seeing your February commentary about CitiFX, I looked at a monthly chart and wondered – ‘What if 2001 through 2008 was wave 1 and 2 of a larger pattern? (I’ll call it super wave 1 for this discussion.) If we are in a super wave 3, what would that look like?’
Of course, there is a clear 5 wave pattern from the 2008 low, and super wave 3 is just barely higher than super wave 1 if this is it for the wave 3. It just doesn’t seem to look like a wave 3.
Arguing for the end of super wave 3 and being in a correction (obviously a complex correction) of a multi-year impulse wave, the monthly wick top in November 2009 and the wick bottom in October 2011 have a little overlap and 4 can’t go into 1. That argues against having an extended wave 3. Therefore, the expectation I suppose is for an abrupt decline into the 80’s at the end of this complex correction before super wave 5 begins.
If that is the case (defining wave 1 as 2001 through 2008, and wave 3 as 2008 to current), wave 1 was extended in time, wave 2 was abrupt, and wave 3 was shorter than 1 in duration but normal compared to 1 in height. Does that argue for a wave 5 that is extended in height but short in time?
Further, it looks like the super wave 3 (2008 to current) started with a complex wave 1 (October 2008 – March 2009) if that is the count. Does that argue for a quick reversal into super wave 5?
To recap:
Super wave 1: extended in time but rather simple component waves 1 and 2.
Super wave 2: correction simple but short.
Super wave 3: component wave 1 complex but short both in duration and time compared to component waves 3 and 5; and waves 3 and 5 look pretty normal to each other – in fact almost looking the same though wave 3 is about 100 pips higher.
Super wave 4 (if it is): From August 2011 continuing to present and expected to continue is complex and should end with an abrupt wave C drop into the 80’s.
My first conjecture is this –
Super wave 5 after the complex wave 4 ends would be expected to have a simple component wave 1; probably it will extended in height since wave 1 and 3 are normal to each other in height; and possibly short in duration since we already have an extended duration in wave 1.
My second conjecture is this –
Is it possible to have a complex component wave 4 correction (of super wave 3 here) into an extended super wave 3 and if so what would that count look like? Or are we definitely through with super wave 3?
Best regards,
Curtis
Hi Curtis, First of all, my sincere thanks for taking time to write this long comment.Obviously, you are a very passionate follower of the Elliott Wave Principle, and I know for a fact that anyone who is passionate about his studies will do very well. You have asked me some questions about the wave counts in the very long term. I hope you will forgive me for not addressing those questions. The reason is I tend to focus my attention on actionable trade ideas, and generally feel the very long term waves are best left to academics. May I request that you copy and post these comments on the Forum so others who are inclined to discuss long term counts can engage with you directly. Once again, I do honestly appreciate your thoughtful comments on WaveTimes, and it is readers like you who make my day.Thanks again, Curtis.
Hi Ramki,
You’re right. Using EW to help find actionable trades is its best use. Your suggestions have helped me over the past few days see and refine my entry and exit. I just need to practice acting on what I see over time and gain confidence in what it is telling me. The other thing is keeping the losses small when it tells you that you’re wrong in your interpretation. Both are useful
About my other question, You’re right! That means we can’t be in wave 4 of the larger structure from 2001 – so perhaps we’re heading into wave 3 of 3 once this correction is over. Interesting to think about, but I’m not going to try to plot it out – back to the charts to look at tonight’s trading.
Best,
Curtis
Hello Ramki,
I should have looked through what I said and been more explicit. I am asking your opinion concerning how you see the count and its development.
If I understand what you said in your book, it looks like we are seeing a correction at a larger degree within a larger degree wave before going into what should then develop into a wave 5.
Best,
Curtis
Hi again Curtis, I am not comfortable with calling the rally from 2008 lows as wave 3. If i recall, you yourself said it doesn’t look like a wave 3 judging from its personality. Besides, the top of wave 1 has already been violated….best wishes
It seems to me that this website doesnt download in a Motorola Droid. Are other folks having the same problem? I like this web site and dont want to have to miss it whenever Im gone from my computer.
Hello Roy, thanks for letting me know. I will ask around if there is a solution for this problem.
Dziękuję za FWFF Pozdrowienia z Polski
zapraszamy! powodzenia w handlu
I bought his book in English and I liked it. I congratulate you for your work in the book, and your website.
In the future, I ask you to do a Spanish version.
I can read in English, but I would love it in my language.
Thanks for everything
Hola Pablo, gracias por escribir. Me encantaría prouduce una edición en español en algún momento en el futuro.
Hi Ramki:
I just purchased your book from Amazon.
I would really like to see a print version of this book – I am using a Kindle reader for my PC but much prefer to have printed versions of books.
Hopefully you will take this under consideration.
Looking forward to learning.
Thanks,
Alan
Hi Alan
Thanks for writing. A printed edition is something for the future. But at present I am afraid the kindle edition is my only offering. Please try downloading the Kindle for Ipad, or PC and you can read it there for free as well.
i go through your post,,, very exciting!!!!!!!sir please look in to indian nifty indices..
Though you dont live in india I love the name RAMKI……….learning without seeing the teacher
Hi Mani, Thanks. My parents will be pleased to hear that you like the name they chose for me!! Best wishes
Hi Ramki:
thanks for have writing that book. I bought yesterday by amazon. One of the best thing, is that you put a lot of examples in an easy way to learn. As a teacher who i am a really appreciate your job.
Apart from that, I would like to ask you if you can give us your view (Elliot) about CLF.
Thanks very much
Germán from Argentina
Hi German,
Sorry I was too busy to look at CLF till now, but the stock is up 9% today!! Will take a look tomorrow.
Hi, I enjoyed your book a lot but I did not receive the latest updates (i.e., I only received one update since I bought the book and that was a long time ago)
Hi Khalid, there is only one special update for the book, and I guess you already have that.
Hello Ramki,
I bought your book from Amazon.com.Iam just going through book and have a query.
Would like to know what exactly is Reflex Point ? This word is used at many instances in the book.
Sorry if this is the right place or not to post this question or can you please share if there is any forum where in i can post my qureies .
But would like to know what is this reflex point.
Thanks in Advance
Reddy
Reddy, a reflex point is where a reaction has taken place and a turn again in the direction of the trend, usually the 4th wave level.
Dear Ramki Sir,
I am from kolkata (west bengal), very recently i came to know about your book and website , and i read throughly your each and every posts, by reading your posts i felt that your book on EW will be very useful to me, but the problem is i can’ t by it online . can please let me help to purchase the book from any book store in kolkata, pls help me.
Pradip, Unfortunately the book is only available online as of now.
Hi Mr. Ramki
I have recently had the pleasure and honor to buy your book and read it and am half way thorough, I read each chapter almost 5 to 6 times and I plan to reread the whole thing after completion just to make sure that I understand every little details
Thanks again for providing this website as supplement to the book where we can read up on update live example
I have always used harmonic trading and know how to trade that ABCD in details, and wanted to read on Elliot Wave but everywhere you read on the internet makes you scared of its complexity, so let for a while, until I found your book over Amazon and since I stated reading the ebook, its simplicity guides me in the correct way and thats really what am looking for, simple approach to already a complex factor
I just took a trade on GPB/JPY Hourly chart on what I thought was wave 5 and made 50 pips targeting 61.8 completion by projecting wave 3 to wave 4 , isn’t that awesome!
Thanks for making that possible
Hamza, Thanks for writing and congratulations. However, always be cautious and allow room for errors and have a plan to exit when the earliest sign of trouble shows up. Good luck
In elliot wave analysis, while using the weekly chart I found wave 3 is ended and while using daily char it says the stock has completed wave 5 and and in correction mode that is C. Example is Granules India. Which wave one has to take for analysis? Also whether we should look into weekly chart or daily chart?
regards
K.Venugopal
Venugopal, This has been explained in FWTFF, I believe. You trade the time frame that suits your goals and risk profile. Naturally, if you are trading a weekly chart, your stops will usually be relatively farther away. It is possible that a daily chart can show a correction while a weekly chart is in an impulse mode. More important than all of this is you should use waves to make trading decisions, not labeling decisions. Good luck.
sir ji,
i would like to know as when mkt opens next day how to identify as whether and when will it be impulsive and when corrective.
Regards.
suresh
Suresh, You approach to Elliott Wave needs to change. Use it as a helping tool in trading, not as an end in itself.
Ramki Sir,
Will you be in a position to provide your thoughts and Elliot Wave counts for on-going Bull market for NIFTY India markets place from daily charts perspective.Every week its touching new highs so what does it all means for Indians specially when we have got new Modi govenment which has got clean majoirty from people of India to stand for next 5 years.
Prabh, As I am currently charging people for the same in my other website, I am unable to post it on wavetimes.com
Ramki Sir,
Can Wave 1 take form of Expanding Diagonal Triangle?We know Wave 1 can be leading diagonal traingle but can it also take form of Expanding Diagonal as well.
Prabh, Yes, it can be an expanding diagonal and I have seen it in my experience as well.
Dear Ramki Sir,
I am a complete newbie in any charting/technical analysis and am keen to learn. I have been investing sporadically and fairly passively for the last several years. It has done me good and the returns have been rewarding. With a slightly higher risk appetite and with more free time I have chosen Elliott Wave as a tool to learn and expand my trading. I have the following question – what are the prerequisites to learning Elliott Wave using your book. I have no idea about techinicals, stats, and my investments till date have been using broad thoughts like – car purchase behaviour, fast food consumption etc. I don’t know anything about EW either.
Vishal, The prerequisites for learning EW include high school math, an open mind and an understanding of the spirit of the theory rather than a mechanical interpretation. Good luck
Dear Ramki,
I am learning the Elliot Wave now, and your book (Five Waves to Financial Freedom) is very popular in Amazon. Unfortunaly I live in Indonesia and unable to purchase the book, both from Amazon and Barnes. And your book in infibeam.com currently is discontinued.
Is there any plan to sell the hardcover or sell the book in pdf format? Thanks in advance.
HI Andy, Please send me an email and I will give you an easy way to purchase the book.
Dear Ramki,
I had purchased FWTFF through infibeam on 26th June 2012, order ID: 17793302. Recently my PC hard disk crashed and need to refer to this excellent book again. I sent an amail to infibeam requesting to resend ebook again however they have expressed their inability due to do so as it has been “discontinued on the site”.
Please advise if need to repurchase this book again?
Thanks in advance./ Rajendra
Hi Rajendra, I am afraid that is likely the case. I suggest you buy it from Amazon and read it on 6 different devices! And that includes your desktop PC using a kindle reader that is freely downloadable.
Dear Ramki….I am often fascinated by the rules associated with EW analysis. One such rule is that if Wave 3 is equal in length to Wave 1, then expect Wave 5 to extend and possibly equal the entire length of Waves 1 thru 3. In your recent ebook titled “Dividend Growth Investing Using EW” an example of this possibility exists in Pepsico. In your example, Wave 3 nearly equals Wave 1 and is noticeably shorter than the normal 1.618 multiple of Wave 1. Yet you project Wave 5’s peak possibility to be only .618 times the length of Waves 1 thru 3. Could this evaluation cause one to realign the thinking of this structure to be an A-B-C….where C is now unfolding in 5 waves up (Wave i & ii possibly complete) and would cause the C Wave projection to be nearer the 1.382 or 1.000 time multiple of the A Wave up from the low in March 2009 to the peak in July 2013?
Hi Bob,Good question. My approach to using EWP is to use the theory to dovetail with my trading and investment goals. The goal is definitely not to get the correct count, or to make vainglorious predictions that may look good at the moment, but will serve no useful purpose other than to remind people that I got it right at some future date. Hence, starting off with a conservative target makes sense to me, and I can always look at the internal waves of the current impulse wave to determine whether we are close to a bottom or not. Hope this helps!
hi ramki,
you always look at internal wave means , are you try to catch the end corrective wave from impulse wave
example : try to catch corrective wave abc in lower time
from impulse wave in higher time frame
Suresh,
A cycle consists of 8 waves, 5 waves to the upside and 3 waves to the downside. If you are trading the 5 waves to the upside, you will get 2 minor corrections along the way. If you are trading the next cycle higher, you will buy at the end of 3 waves that completes the 8 wave cycle.
Please post your comments in the appropriate category.