Why elliott wave? In order to trade profitably, you need to be well equipped to recognize the greatest probability pattern for the upcoming trend in whatever market you choose to trade. Elliott wave analysis , when utilized appropriately, will provide you with high probability set- ups of what the market can do, while excluding what the market will not do.
You can use elliott wave analysis to help you trade the markets objectively. It helps you identify trends and turning points, find realistic price targets and manage risk with precise stop-loss levels -- putting you miles ahead of other traders.
The elliott wave theory, ( or some call it the elliott wave principle) elliott wave analysis and how to trade elliott waves can be a mind boggling trading concept to understand especially for a new forex trader.
At first, i used to use classical technical analysis methods. But then i started looking for ways to guide the markets and met the elliott wave theory that fascinated me in this regard.
Trading elliott wave strategies may not be easy & learning the elliott wave theory from scratch might be a daunting task with a steep learning curve. If you are a beginner trader with little or no experience, you can find many useful articles and tips on how to trade elliott wave for beginners.
before we begin our discussion on how to trade elliott wave, lets learn how the elliott wave theory was discovered. You will learn why the elliott wave strategy is so popular today.