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Introduction
The Elliott wave principle was developed by R.N. Elliott in his 1938 book, The Wave Principle. The Elliott wave principle is a form of technical analysis that attempts to analyse financial market cycles and forecast market trends by looking into extremes in investor psychology expressed by highs and lows as well as prices and several other factors.
This article serves as a basic introduction to Elliott wave theory. A basic 5-wave impulse sequence and 3-wave corrective sequence are also explained. While Elliott Wave Theory can get more complicated than this 5-3 combination, this article will only focus on the very basics.
Basic Sequence
There are two types of waves in the sequence that is the impulsive and corrective phases. Impulsive waves move in the direction of the larger degree wave. When the larger degree wave is bullish, advancing waves are impulsive and declining waves are corrective. When the larger degree wave is down, impulse waves are down and corrective waves are up.
Fig 1: Elliot Wave – Basic 5 wave sequence.
Fig 1 above shows a rising 5-wave sequence. Waves 1,3 and 5 are impulse waves because they move in the same direction with the trend, where…
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AAAnya avatar
AAAnya 26 July

Nice one!

CommunitySupport avatar

рарвеареарпар

daniellabas avatar

Good job

thedoctor avatar
thedoctor 17 Aug.

good article!

anvifx avatar
anvifx 28 Aug.

Good article!

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22/52
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Доброго времени суток, коллеги. Сегодня я расскажу о Волновой Теории Эллиотта и некоторых, связанных с ней фишках. Точнее расскажу почему эта самая теория не работает на практике именно в классическом ее применении.
С момента издания волнового принципа Элиотта прошло немало лет, и с тех пор саму теорию обсуждали и переписывали многие авторы. Огромное количество трейдеров использовало и продолжает использовать постулаты теории для торговли на финансовых рынках, и как следствие - рынок приспособился под эти постулаты и перестал соответствовать им. То есть чистая классика не работает! Конечно не на 100%, а где-то на 50-60%. И в связи с такими изменениями увы не нашлось автора, который подогнал бы классическую теорию под реалии сегодняшнего рынка. Каждый из вас знает, что любую стратегию на периоде 3-5 лет нужно тестировать заново и вносить коррективы - это не значит, что она не работает, это лишь означает, что рынок немного изменился. На сегодняшний день есть много Нилистов, Эллиотчиков и прочих последователей, которые бурно обсуждают разметки различных финансовых инструментов на многочисленных форумах и в чатах. Но мы ведь с вами пришли на рынок не обсуждать и спорить, ведь это отним…
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brilliant avatar
brilliant 24 Mar.

I hope it give you good return.

Beto avatar
Beto 28 Mar.

My opinion about your article is that you are right, Elliot waves didn't work at 100% because is difficult to determine it. In fact, the days are running one by one and maybe you miss one wave or enter at wrong correction.
So, my experience tells me that the best is the monitoring of new structures of high and lows.
Connecting this and making a forecast of the next possible move. Check confluence of support and resistance as well.
To use the Fibonacci levels is very useful to manage stops and targets properly.
Good information and share experience. 

Patalogoanatom avatar

Thank you for your comment. I try to simplify as much as possible the classical approach - it helps to earn profit. I hope my experience will help the community members)

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11/66
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Introduction
I find it useful to look at the big picture from time to time. In technical analysis terms, that usually means inspection of weekly and/or monthly charts. However, I rarely get to see analysis of "ultra-high" timeframe charts, so I decided to make a couple of attempts of my own. Previously, I analysed long term charts of the Euro, the Yen and the Cable.
Today I'll have a look at yearly and quarterly Swissie charts that are covering the period from 1971 to 2015. While the yearly may be of some use for a quick overview of price action, the quarterly chart offers more detail and makes trends, ranges and patterns more easily observable. I will be focusing on the latter for my analysis.
Yearly Chart
Quarterly Chart
Downtrend and the Falling Wedge
During the period of the Bretton Woods System (1945 - 1971), Swiss franc was pegged to the U.S. dollar at a rate of 4.375 per dollar. After the system was abolished, franc started to appreciate or, in other words, the pair (USD/CHF) embarked on a downtrend. Even though both dollar and franc are considered safe haven currencies, stronger demand for the latter has also bee…
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fxsurprise8 avatar

yep SNB will follow the ECB down

Milian avatar
Milian 1 Dec.

Good job!

al_dcdemo avatar

pipx We'll see, both central banks are definitely able to surprise markets. :)

al_dcdemo avatar

fxsurprise8 It appears so!

al_dcdemo avatar

Thanks to all for your great comments!

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23/35
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Too many politicians talk about the gold standard and gold price. No, I don’t mean Ron Paul, Garry Johnson or other libertarians and conservatives. I mean mainstream politicians. The first were deputies of the Swiss People’s Party. They suggested sort of currency competition. The issue is that they want to create a new franc backed by gold, which will be in use with fiat francs. As to me they should back their current franc by gold, no more. Even in US mainstream politicians talk about the gold standard. Presumptive Republican presidential nominee Mitt Romney promised to create a gold standard committee if he wins elletcions. It would be wonderful if Swiss and American governments return the gold standard to society, but I’m sure they won’t do anything. It’s the same old story: they promise and don’t do anything after elections. There is only one power in the world, which could fight against socialistic politicians and that is free market. Free market will introduce the gold standard de-facto. Economic agents will turn to direct gold transactions when gold price rises to 15000. People will return to gold standard, with or without political help. How it will happen? The 30 Yea…
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alifari avatar
alifari 24 Sep.

very well written article +1

Alya7276 avatar
Alya7276 27 Sep.

waiting for webinar +1

voskeat avatar
voskeat 28 Sep.

interesting idea

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21/35
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In my prevous article dedicated to the euro I wrote about the coming recession. I thought the 1.274 level would be forbidding, but the price went higher. So the short term scenario is changed, but mid an long term are steady. The Euro will fall to 1.15 before 2013. Optimism is beyond the limit. Theese weeks are the last bullish weeks of the June-September uptrend Markets were too optimistic before Bernanke's speech and QE3 anouncing. They became more optimistic after that. Weekly surveys show about 30% of bulls on the dollar index, I guess there are less than 10% of them on daily charts. Market optimists can't understand obvious things: Bernanke promised $40 billions per month, the issue is that hundred billions of debt piramids are crushing every month and 40 billions is like a drop in the ocean... The invisible hand of market is still beating them.Both euro and dollar index are charting the ending diagonal. My mistake was that I saw the diagonal on the dollar index, but didn't on the euro. I forecasted level 80+- for DX on July 13, but I didn't understood that 80 on the DX would be equal to 1.30+- on the Euro/Dollar. The ending diagonal makes the target 1.06 more reliable.The DX.…
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Tom avatar
Tom 22 Sep.

Thanks, it's going to be a great bear market!

Alya7276 avatar
Alya7276 25 Sep.

Was a bit disappointed with your webinar, hope you`ll do your best next time!

fasolinka avatar
fasolinka 25 Sep.

good article

Tom avatar
Tom 27 Sep.

Apti, yes, Czech Republic is great!
Albert, it's very funny, but everybody is very optimistic...
Alya7276, I've made something interesting for the next time...

voskeat avatar
voskeat 28 Sep.

suddenly for me my macroeconomics lector agreed with your point of view.

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20/35
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The EUR/USD is the most popular and technically easy currency pair on Forex market. I recommend this pair every rookie trader. As to me the first thing newbie should do on market is choosing forecasting instruments.I started trading in 2005 (when I was only 15). In 2006 I discovered Elliott wave principle for myself, I learned it and made many useful and correct forecasts. For example when gold price was only $600-700 I advised my parents and relatives to buy several gold bars (50 and 100 grams). And they all took my advice. Now gold costs about 1650-1700 and according to my new forecast it gonna grow to $2000, $5000 and $15000 before 2018.My next forecasting instrument is a public opinion. I mean various surveys, bullish percent and sentiment indexes. It's not too easy to make a right short-term forecast without any sentiment index.Just look on this weekly euro surveys. Sentiment indexes are good oversold/overbought indicators, more correct and accurate than every mathematic indicators.And the third one is a cycle analysis. You could predict price levels using Elliott waves with sentiment indexes, for time forecasting you should use a cycle analysis.This article is dedicated to th…
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voskeat avatar
voskeat 28 Sep.

nice article

Tom avatar
Tom 28 Sep.

thank you.
If you mean the trade cycle reversal window it's from 25.09 to 5.10, so we are in the window.
I think, that low has been shown.

Victoria avatar
Victoria 30 Sep.

I'm not sure that euro will fall without divergences

fasolinka avatar
fasolinka 30 Sep.

Very interesting article, good luck!

Ararat avatar
Ararat 30 Sep.

Hope you`ll win, really appreciate it

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