11USDCAD-DAILY20161117125239

Many traders overlook the process of selecting the right instruments to trade. Trading is a process which requires a lot of discipline and a good technique to be consistently profitable. Selection is one of the aspects which can define the life of a trader because without the right selection process, most traders are going to […]

  • Elliott wave: The probability behind trading


    Elliott wave is a pattern-based forecasting tool. The Theory was developed in 1930 and it is known for the idea that the Market advances in 5 waves and pullback in 3 waves. The Theory explains that the trend is always in 5 waves, and the trader needs to buy/sell against the beginning of wave 1 to make […]

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  • $GBPJPY Live Trading Room Setup from 8/18


    We issued a buy order for $GBPJPY on Aug 18 Live Trading Room and got filled on Aug 19 at 130.97. We took profit on Aug 24 at 132.6 for a +163 pips profit. Here’s the trade setup at 8/18 Live Trading Room Journal. Each day in Live Trading Room, members attending the session will receive a similar journal like the […]

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  • What bullish trap looks like (explained through $USDCAD example)


    Hello fellow traders. In this technical blog we’re going to present you another example of Elliottwave Expanded Flat structure. On the 4th August, $USDCAD broke the 1.3000 low and the day after  gave us very sharp rally of approximately 180 pips, breaking the previous high at 1.31475. Most of the traders would characterized this price […]

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  • Bank of Japan : Double Three Elliott Wave Structure


    The Bank of Japan on Last Friday disappointed investors by offering a round much lower than expected extra while announcing a review of its current policy measures stimulus, leading some observers to wonder whether politicians fear that they are running out of tools to revive the Japanese economy. The Bank of Japan under the governor, […]

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  • Expanded Flat forecasting the rally in $USDCAD


    Expanded Flat is a 3 wave corrective pattern which could often be seen in the market nowadays. Inner subdivision is labeled as A,B,C , with inner 3,3,5 structure. Waves A and B have forms of corrective structures like zigzag, flat, double three or triple three. Third wave C is always 5 waves structure, either motive […]

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  • Elliott wave Theory: Is the Impulse count in GBPUSD right?


    The Elliott wave Theory was developed in 1930 and of course the most popular pattern is the 5 waves advance and 3 waves back to correct the advance or decline.  Since the Theory was developed the Marketplace has changed some as well as the charting tools we have at our disposal now. Consequently the main idea has […]

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