Elliott Wave Theory is named after Ralph Nelson Elliott. Trading philosophy based on Elliott Wave Analysis is immensely popluar with a large number of traders around the world. This includes some of the most competent traders and analysts in the world. Althought some critics may like to call Elliott Wave Analysis too subjective, the fact that a lot of highly successful traders use Elliott Wave Analysis in their trading makes it necessary for you not to ignore it. Elliott Wave Analysis has an enormous following of practitioners.
You can use Elliott Wave Analysis in any market whether you trade stocks, forex, futures, commodities, ETFs or whatever! So rest assure, this technical analysis tool can be handy for you in developing the big picture of any market that you are trading! As a trader, you need to have a big picture!
In practice, trading based on Elliott Wave Principle is primarily based on identifying the market turning points, whether these turning points are minor retracements or major reversals. What the Elliott Wave Principle stipulates is that price movement is predictable and can be classified into a series of five waves. So the first wave sets the stage for the trend movement and the subsequent waves comprise the counter trend movements in the market or what you call corrective movements in the market.
Getting confused? So instead of making you confused, I want you to take this Elliott Wave Video Course rather call it Elliott Wave FREE Video Crash Course as it gives three FREE lessons investing and trading the Elliott Wave Principle. Learn how you can use the Elliott Waves in position management, entry, targets, stops and risk/reward assessment in a trade. This video crash course has been developed by Elliott Wave International. Elliott Wave International was founded in 1979 by Robert R. Prechter Jr.
Elliott Wave International (EWI) is the world’s largest market forecasting firm. Its staff of full-time analysts provides 24-hour-a-day market analysis to institutional and private investors around the world. Robert Prechter is considered to be the world leading authority on Elliott Wave Analysis. After going through this Elliott Wave Video Crash Course, you should download this EWI FREE Report that shows How The Elliott Wave Principle Can Improve Your Trading! Download Jeffrey Kennedy’s free report, “How the Wave Principle Can Improve Your Trading.” You’ll learn the 5 ways the Wave Principle can improve your trading, complete with easy-to-understand charts. Jeffrey has even included a free bonus lesson, “How to Use the Wave Principle to Set Protective Stops.” It’s a critical lesson in forming your trading exit strategies.
nice post. thanks.
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I read a book by a guy named Harry S. Dent. He spoke about demographics and how things trend up and down, but I’m not sure how this all play into Elliot Wave theory. Good site. I’m always looking for good finance info. My favorite place for this kind of info is zerohedge.