riding the elliott wave for big profits - with hardianto sunoto // tutorial explained fibonacci theory forex basics market analysis international david moadel welcome to looking at the markets withdavid modell today's special guest is mr. hardy on tosu note oh mr. sonoda isbased in indonesia he graduated with a bachelor's degree in chemicalengineering he started trading the stock market in2009 after the subprime mortgage crisis in 2011 he was introduced to the forexmarket and immediately fell in love with it he is currently an independent traderwith the forex all-stars dot-com which i recommend that you check out his and hisanalysis of the market is technical with elliot wave theory fibonacci andclassical chart patterns as his favorite
tools are dion toes twitter handle is attrader underscore party so mr. hardy anto suno - welcome - looking at themarkets thank you david for having me on it is absolutely a pleasure to have youhere now your past performance is really impressiveyou know people put their money into the s&p 500 and hope for 10 or maybe ifthey're lucky 15% in a year but looks like according to this chart here thatyou've got up on the screen that you're making a lot more than that can you tellus about our performance about your performance over the last year yeah thelast year i've been meeting close to 50% of my accounts so i've been approachingthe markets in the forex i trade the
forex market and i use a little bitmostly to trade it so i really pick up pick my entry a really great entry thatit has a high probability probability with a really great reward for meabsolutely and yeah i mean fifty percent in a year returnsthat's that's really fantastic and again i recommend people check out that's 4xall stars calm and the links to all these will be in the description of thisvideo but before we get to check out the rest of the website i want to see howyou're getting these kinds of returns are getting and let me today we'll betalking about elliot elliot wave theory in particular and then how you can ridethe elliot wave for big profits like
you've been getting so do you have anyyeah if you'd like to show us today before we started casually some of thestatements so we can look at how i yeah i get all the returns yeah so let's lookat it yeah so as you can see um i've um i have more profit than lost in myconsole if if if we're trading we really need to pick our entry so once we get itreally good entry you know you can um you can surf the several market you needto just leave your position on you know and then you can get more profit with agreat resource instead of them just get just carry into the market just to getin the market you know yeah yeah absolutelyyou know we're all gonna take losses
sometimes but when your profits are muchmore consistent and bigger than your losses and i'm looking at you know rightright here on your statements you have a few small losses and you have a lot ofyou know much bigger profits in there and it looks like that's right it lookslike looks like you're you're using the time-tested technique of letting yourwinners run and cutting your losses short would that be correct that's righti always put my stop loss but i usually leave my umtarget target profit empty until like the last moment or i move my stop lossand then let let the market hit the stop loss to make me to make me in get out ofthe market yeah and if that is that a
hard stop loss that you an end profittarget that you did determine before you place the trade yes that's rightand that really is a great way to do it before you place the trade not after youdon't want to just guess and wing it as they say that's rightyou know you need a really good plan before you go into the market you knowbecause once you go in all your emotions are gonna take over and then you'reyou're not gonna be thinking logical anymore but the thing is the marketsbeen really good the last 12 months i mean ever like the worst drawdown thati have is only like two percent but before i mean like over the last coupleof years my wardrobe dance is almost
like 10% of my account so yeah you can'treally you can't really expect the market is gonna be good all the time sothat's why you need to prepare it all the plans with the with the houseapplause and every teach you you know i'm so glad you're you're showing notjust the good days but the tough days because anybody who comes on the youknow goes into a chat room or or makes a youtube video claiming that they don'ttake any losses they're lying okay so just to let youknow people out there yeah yeah we all take losses but yeah i've even blown aconch before you know so yeah yeah i mean if you've never lose in the marketyou know it's kind of hard to believe
yeah yeah possible but you know stillbased on my experience right right any active traders gonna take losses thatthat's just the way it is unless you're just buying and holding the s&p 500 for20 or 30 years then you might not take a loss but for everybody else that's likebut if you're an active trader and you want to beat the market which mr. sonodais doing very consistently alright so people are probably wondering how theheck do you do this with elliot waves so so i use a when i started fading um ionly used the basic technical and you know and fibonacci whatever i can learnfrom the books but over the time i met a really great mentor that taught me howto use alt wave it's not really a it's
not a really precise predictor on how totrade the market i mean having a road map is really goodbut at the at the end i'm the driver is the key you know eric will can show youthe direction of the move and everything but like driving navigating the turnsand the hazards are really important so elliot wave can can give you the roadmax and thence and after that we really need to apply the technical analysisthat we know to pick a really good entry with a great racing walk to okayand by the way this is i i know you're a forex trader mainly but i know that thiscan also be done and you have done it quite successfully with stocks optionsand and things like that correct correct
you can use elliott wave in or in allinstruments as long as you have in the charts so the the basic knowledge youcan still apply it only show it in forex is i mostly trade falling products nowbut i have used it for me for for for stocks toookay okay so let's talk about the details the specifics how do you findyour points for entry exit that kind of thing okay so the basic theory ofelliott elliott wave is that you have a impulse wave and then the correctivewave the e-book impulse waves is always in five with five waves so when youbreak it down you don't see five movement to the top or down and out ofthat you have a three wave correction so
for my for me myself i only i mostlytrade in the impulse direction so i know it's the fastest moving wave that willwait so i usually enter my position and wheni do it's also one two three four and five as seen is in these monthly usd andcharts so i mostly trade in the wave three or y5 direction because we knowthem in elliott wave wave three is always the most impulsive wave so it'sit's really going in a direction of the trend and it's really moving fast so youcan take profit really fast or with a really great riskreward okayso yeah is to go back so this is the the
us dollar against the japanese yencorrect that's right and and so you say there are five waves so if somebody waslooking is is that the number i see a bunch of number as much of letters whereare the five waves exactly okay so this is you can see the small with one andthen a one two three four five this five wave makes one big waves up so in alittle wave it's a fractal system so every five wave meachem makes one oneimpulse way got it okay so within every fractal meaning that you've you've got abig wave that is consisting of lots of little waves is that correct that'sright that's correct and even the small wave you can break it down again to asmaller week's wow okay okay and so
let's see so you got five wavescomposing one big wave and then i see a a blue line there what does that meanthis is just a resistant i draw from basic technical so i'll just draw aresistant trend line for this but as you can see after we make a five wave upwe're making a five with three wave down sorry so we have eight b and c in elqwave we for the collective wave we always use the the letter in the insteadof the number so we have abc down and then even if i show you this if i do afibonacci of the five we can see the the waves see stops at the 50% of theretracement okay okay okay that's interesting i see those retracementnumbers in in fibonacci's a lot so is
that but that's also part of elliot wavetheory as well correct so elegantly rely on fibonacci also because we use them wewill achieve levels to determine our target level for for the retracement andfor the target profit if it goes up okay okay good yeah okay what else okay so sowe finish five waves up and then three waves down right sothe next one should be another five ways five ways up so we if we do accountingwe have one and then two already so if we break this trendline resistance it'sconfirming that we have a three wave wave three right now so this thing isgoing higher interesting okay because if i looked at that resistance line theblue line that you drew i would think
maybe it's not going to go higher sowhat what really makes you feel what confirms it for you in this scenariothat it's going to go higher assuming this low on wave two holds this one andthe one i'm showing right now yeah assuming this still holds so if the nextmove doesn't break this we can assume that wave two is done so no matter whatthe whatever happened this thing is gonna break the trend line ain't goinggo up to to form the wave three of them move em talk okay okay and wave threeshould be part of a another five wave cycle is that correct correct that'sright okay even even i can understand that so that means you're doing a goodjob if if i can understand it anybody
can understand it alright good now whatif it doesn't go up you know because nobody you know there's no perfectsystem if it goes against you do you have a stoploss in place here of courselike i said the law of the wave - over here the law it should be a stoploss ifyou're going if you're going along because assuming assuming this is at theend of the wave - or ad it shouldn't break but if it does break it means ithas two possibility it's either wave - it's not done yet as so as long as thewave c bottom is not broken it's still forming the wave 2 is still finishingthe wave - okay and it still has the possibility to go up for four wait tillthree later on gotcha
and in case we didn't say it alreadythis is a monthly chart each candlestick represents for a month one month ofprice action and so you're thinking very long term and you're being very patientwith your trades it sounds like no i use a really big timeframe to determine mymy main trend okay so the way i trade yeahso i used to look at monthly and then i go down to weekly daily and in four houror even one hour charts but i know i from the monthly charts or the weeklycharts i know which direction i want to take so this limit is eliminates thenoises in my trading because if you look at like a smaller timeframe chartsfigure out is it's going up and down if
you look if you just look at it youcan't even see the big trend clearly so that's what i from my experience that'susually what's mess up like the trading for some of the new traders because theycan determine the main the main trend for it so they're just trading on whatthey see like say it was two days or three days and then yeah and then theyusually have a lot of losses in tough inside of the profits because theytrying to trade all trends gotcha they're not looking at the big picturewhich is that's right knowing yeah and that's why you look in many timeframescool so is there anything else with this chart are we gonna move on to the nextone
yeah because with this chart i'm prettymuch done so after we break the trendlineit's really a great time to go along for us tn got it because yeah because we'veif we're forming wave three and then it breaks the top of the wave one we're notpretty sure that's gonna make wife wife waves up for for usd yen so i've been abull for usd in for quite a while now okay okay alright very good so that allright that's the monthly usd versus the yen sowhat's next we'll next we'll go see euro usd okay yeah delete the most liquidpairs in forex alright and this was another another month and not too badlyyeah yeah okay so in a u.s. in europe
usd if we just see like say the last fewyears trend is going down but if you look at a really big trend the movegoing down is just part of retracement of the of the move up over here that wehave 15 mm okay okay so if we are if you breakit down we can see another five more so one two three four and five right okayso yeah but the difference between the euro usd and the usd n before is thatthe correction for for the euro usd is a complex correction instead of just theabc we saw in usd n so in in yeah in in elliot wave a complex correction is acorrection of like a really big wave so the the w over here that i wrote wx andwhy they have their own abc inside of
them if you break it down okay i wouldnot have seen that unless until you point it out to meyes so that's okay wow so does this all add up to bullish or bearish i'm stillif the big timeframe we could see another low in according to my accountwe should see somewhere below one in the in the future okay but if you're lookingat if you break it down to a smaller time frame say daily in time frame we'reonly seeing three move wave three up and then now it's for me wait for so weshould see an ad above up for for a wave five of c so we could still see someoneon 19123 in the future before we put them okayall right
and by the way what what programmers orsoftware are you using to make these amazing charts no and all software i doit everything by myself is manually done oh my goodness wow that's that soundslike a lot of work but for the kinds of profits you're making it's probablyworth it it's worth it and you can use it as longas it's not breaking any rules of it with you can use it forever yeah wow wowvery good all right good so that's the the euroagainst the dollar and this is the daily chart good good what else do we haveand then another one i only show you is cable gbp/usd yeah if we look at the letme move to the motley first so i'm still
very bearish on cable so according to myelliott wave count we're making move down so we have a andthen b and then the c is not done yet because we need a five move five wavemove for the c so we can only see one two three four and then we need to seeanother wave down five to complete the move yeah okay alright and that is themonthly chart so again you're not gonna place any bullish bets at all even on aweekly or daily chart at this point no i've been selling gbp/usd for for awhile now okay okay and you've done probably quite wellbecause i see yeah i see the big financial crisis there in 2008 and thensome some chop or consolidation whatever
you want to call it and then uh anotherbig wave down what you're saying is still in process it's not finished yetit's not finish i think we could see somewhere lord we did i think we can seesomewhere lower than the 119 that we saw last time after it's it yeah okay wowoh 115 should do to be you're saying 115 is your target there for your for yourpair yeah that's right okay okay wow alright gotta be some more morebloodshed the common theme from this these three charts are that we can seethat all of them are pointing to usd polishness now yeah okay so it's notcoming from the weakness of the british pound so much as the dollar might begoing well it could be both it could be
what good yeah but from all the teachersthat we saw all are pointing to usd direction so i'm thinking usda still haslike a more pull around for like a couple of months later on that's reallyinteresting because you know for most of 2017 the us dollar was just going downand down and down and maybe it's bottomed out and maybe anopportunity so we'll find out yeah i think we could steal a seymour lowerdollar for a while but in the long term i'm still a usd adollar poem for later in the long term got it a long time gotchagosh i'm learning a lot here that's the pound against the dollar there greatgreat uh what else do we have let me
show you another one it should be ainteresting one the euro gbp okay so your gbp um i don't know let me erasesome of the people level so you can see more clearly okay let me do that andthen see the mottely so in your gbp is the same i'm looking for a more movelower a little bit over here before we see another polish run because we have ab and then we're still missing the big c in a wave up yeah so so i'm looking fora little bit more over cuz this is one radio - we need a b and then this is notdone yet so we can see a little bit more weakness in this pair before it isreally gonna take off okay all right it's interesting how you have waveswithin waves and so you get a lot of
head fakes a lot of moles falsebreakouts false breakdowns would that be accurate to say quite without becausei'm the big waves i just use it for the direction but to trade to trade theactual trade you need to break it onto a smaller wave so you can look at itbecause even in a bearish wave you know you can stay off the polish part rightright right yeah because nothing goes straight up or straight down it's morelike a that's right more like a staircase or whatever you want to callit it's got jagged parts in it and so you have to look at the big picture likehardy anto does in order to see the overall direction because if you onlylook at the daily chart or the
five-minute candlestick chart you'relikely to not get the big picture which is what we're doing here so this isgreat good good all right yeah you got a couple more for usyeah actually i have some i think it'll i want to really show the usd/cad okayokay so the loonie if you go to monthly we can see it's moving in a b and calready so the the correction that we saw earlier and now we have thecorrection with and then i think we're still going down for this huh so yeah wecould see another lower is somewhere around one below 120 or usd/cad beforebecause this one the structure is not that clear so this one can be either onetwo three or just a and b a b and c and
then that's it and then we will going upagain for now for a short term yeah for a short term we were most likely to godown before we go up is it possible for a wave to just not finish like that justhave a b and c and that's it what do you mean stop finish like like a waves havefive parts oh wait but so you've got a your b and your c so is is there afourth part in a fifth part or is it just a b and c usually it depends ifit's a corrective wave or not sometimes if the characteristic of their a bsc andone two three are quite similar okay so you can't really tell the differencewhether they're starting one two three or a b and a b see if something likethis happens i usually treat until like
the third wave for any so i want chasethey'll fake wave five even it happens because we might not know whether it'sgoing to happen or not gotcha okay all right so but let allthese patterns the the a b and c pattern it always finishes in some form orfashion would you agree with that that's rightokay okay at least that's according to elliot wave theory yeah that's that'saccording to theory and and i've seen quite a few cases that you know that'sthat's the case that that's how i trade it right so i really completely put mytrust in it you know yeah do so i mean trading is like really falling in loveyou know when you fall in love with
somebody i mean youtrust that that person right yeah so yeah so when when you're trading youjust have to trust your child so whatever child is showing you that's theway to trade it you know it's not what you think or what you feel i mean it'swhat the chart is telling you and that if that eliminates the emotions thateliminates impulsive actions you know that caused us to lose money and sothat's the this is great this is great great and you got you got one or twomore before we talk more about your website yeah let me show you the lastone let me show you the aussie dollar yep yeah so the aussie dollar is showingthe same structures as the adders so um
we're it's still going down in the endcuz with if you reckon to weekly we could see another move up over here tocomplete the bike wave over here but in the long term we're still going down ithink so the usd polishness is drawing again in this chart okayokay so that that could mean so you expect bearish a bearish future on thisone yes like the other euro usd order cable - gotcha all right it's it'sreally amazing to see all the work that you put in manually the trend lines thethe fibonacci lines you also have the rsi down there on all these does thatfigure into your calculations yes usually when we when we do from wavetreat we're five at the moment the
momentum usually loses loses the moveuser loses the momentum from three to five so sometimes we will see theversion in site from three to five that's how we know that the wave isgonna be done okay gotcha so the rsi 14 period might be just in anadded extra indicator to help you guys yeah yeah ok to confirm the move to seeif mike counting is correct or not gotcha it's good for confirmation alwaysabsence right yeah yeah yeah wow wow a lot going on here eitherpicture of what to do what to be bullish on what to be bearish on right now andof course you know everything we're saying in this video is not investmentor trading advice everybody needs to
make their own decisionsi am not a registered or licensed investment advisor so you want toconsult you know somebody who's registered or license if you wantinvestment advice but these are ideas that you can use and then people want tolearn more about this more about how you do what you do and to get some of yourtrading and investing concepts could they go to your website which is uh yeahokay yeah tell us about that actually the website doesn't offer anyeducation or or analysis for it right now for now we're just offering a tradecopier service because um based on our experience because a lot of people wasasking me about my trades and everything
and they're asking me if i provide likeanalysis or for a signal service right right the thing is if we started asignal service this forex is a is a worldwide market right it's open 24hours a day so if i provide a service because i'm based in asia so if i'mtrading in asian our patient session the people in north america are sleeping soeven if i provide the signals and everything they won't be able to executeit and then and then not all my signals are profitable right so if they are thethe onliest execute whatever they can they might end up with more losses thanthat than the profits because they might end up taking on the trace that i havei'm taking a loss on so yeah so that's
why we we started the the idea of atrade copier service so instead of me giving your signals you can just copy mytrade so whatever is acute it's gonna be executed in your account so it can beset up automatically with your broker right and yeah we we have our softwareso we'll set it up on our software and it'll copy my account so what i wouldtrades i'm taking it'll be copier on your account got it okay and people dohave to take responsibility for the accounts all right you know if theychoose to do this they're choosing to make these trades but you know judgingby you know look looking at those results right now i don't see any losinga month's so even if you might have a
losing trade occasionally there's smalllosses and big wins yeah add up to big profits over time i mean fifty percenton the year approximately that's fantastic i don't see that very often sothis is this is really something that people can take advantage of that waypeople don't have to draw manually draw those lines on their charts like peoplebut stuff where you still in control of your account i mean if if you if i openand treat any copies to your account rightyou can still close it manually if you don't like it yeah yeah yeah you canstart it's clearly complete control so it's still your account no matter what ido it's at the end it's your
responsibility i mean if you still i'dwant to follow my trades or you want to close it it's up to you still yeahgotcha all right and that's 4x all starz.comand you want to go there and as you can see they have a blog frequently askedquestions and they'll even explain how it works if you want to know all rightso and then we got some some requests to for this that we're still getting somerequests for the signal service yeah so in the future we might be studying thesignal service soon but yeah we haven't decided when but people can still followus at the at the twitter at 4:00 saw stars or my personal twitter at traderunderscore harvey right over there i
still provide all the charts i sometimespost up charts of the trace i'm going to take so if people want to learn elliottwave or want to take a look how i show my charts people can still go over thereand just take a look so you are truly riding the elliott wave for big profitsand twitter handles again at 4x all stars orif you want to just hone in on what hardy on tosu noto is doing or what he'sthinking you go to twitter you go to a handle at trader and then an underlineor underscore in the hardy-har di that'll all be on the screen and in thedescription of this video wow did i miss anything is there anyother contact information or anything
else you want people to know no jib youcan just contact us via twitter or you can email us at support at far saw starscalm god if you have any questions support at forex all stars calm awesomealright i've been speaking with mr. hardy on tosu note oh and man i learneda lot today and like i always say if he could teach me something then anybodycan learn it alright so i really appreciate it and i hope tobe able to connect with you at a later date so we can get an update on on howyour performance is doing and how the markets are doing so you like anytimemr. hardy anderson oto on looking at the markets okay thank you david for yourtime thank you for watching please like
comment and subscribe and i'll see younext time
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