The Definitive Guide to Trade Like Pro
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About this Book
This guide cuts out all the non-essentials and introduces you to the most essential aspects in the Elliott Wave Theory. Readers will learn the brief history of Elliott Wave, the concept of motive / corrective wave, learn various Elliott Wave structure (i.e. impulse, zigzag, etc), and how to use Fibonacci with Elliott Wave to forecast future direction and target.
The Mathematics Behind Elliott Wave
Elliott Wave Theory postulates that the movement of the stock market can be predicted by observing and identifying a repetitive pattern of waves. In fact, all of man’s activities and nature, not just stock market, is influenced by these identifiable series of waves. Elliott Wave practitioners use Elliott Wave in combination with Fibonacci number to predict the future market moves from minutes to hours to weeks to years.
How to trade the right side?
Elliott Wave is a useful language which allows the practitioners to identify cycles within cycles, from smallest cycle (minute) to the largest cycle (decades). Traders who can identify the different cycles could stay at the right side by buying / selling pullback in 3, 7, or 11 swing in the smaller cycles and always trade only in the direction of the major cycles.
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