August 7, 2016
There are 3 major key factors in Trading that every professional trader should have: 1. Ability to forecast the market 2. Good Money management 3. Good Psychology. It’s crucial for all three factors to be included in order to succeed. If just one of these 3 mentioned factors is missing, the trader will fail. In this blog we’re going to get through some important tips on how to improve Money Management strategy. Before we continue, here’s a short reminder: check out New EWF blogs and Free Elliott Wave charts. 2% rule This one is the key money management tip for […]
August 7, 2016
Triangle is an Elliott wave pattern seen during sideways market consolidations, it is composed of 5 corrective sequences. Triangle presents a balance of forces between buyers and sellers, causing a sideways movement that is usually associated with decreasing volume and volatility. This pattern subdivide into 3-3-3-3-3 structures labeled as A,B,C,D,E. Triangle is continuation pattern which breaks in direction of the preceding move. It could occur in wave 4 in an impulsive structure, wave B in a zig-zag and wave X connector in double and triple threes Elliott wave structures. It could also occur in wave Y of a WXY structure in which […]
August 7, 2016
Double three is the most important patern in New Elliott Wave theory and probably the most common pattern in the market these days, also known as 7 swing structure. It’s a very reliable pattern which is giving us good trading entries with clearly defined invalidation levels and target areas. The picture below presents what Elliott Wave Double Three pattern looks like. It has (W),(X),(Y) labeling and 3,3,3 inner structure, which means all of these 3 legs are corrective sequences. Each (W) and (Y) are made of 3 swings , they’re having A,B,C structure in lower degree. Now, let’s […]