Any market is driven by the psychology of the people, by knowing this principle you can forecast large and small shifts in the price action. In final result it will minimize emotions and your doubtfulness before getting into trade. Furthermore this analysis will maximize your profits and success of prognosis by placing the stop losses/take profits, trade setups the right way. These patterns were noticed by Ralph Nelson Elliot who watched and identified these by watching the market for about 10 years. He called this discovery "the Wave Principle" and these days it belongs to one of the fundamental technical analysis in trading. The book was published in 1978 by Mr. Prechter, who has found the Elliott's work in the New Your Public library and published a book "Elliott wave principle, which has spread like a fire throughout the world. The new focus for Wall Street and investors worldwide was designated. Nowadays tens of thousands of people use Elliott wave princi...
Forex trading analysis, tips, tricks, guidance and much more, all written by passionate trader, who is in this business for about 2 years.