Elliott Wave Theory

 The big advantage to technical analysis. Technical analysts were able to arrive at actual price targets for the crash, in real time, while it unfolded. Fundamental analysts knew it was "gonna be bad!" but that type of analysis doesn't help time the market with a large degree of accuracy. This is why the majority of fundamental analysts don't even try to time the market, except in broad strokes; their system is ill-suited to it. Elliott Wave Theory. One way to look at it is that the Elliott Wave is a unique way to understand why the market does what it does, and a detailed tool that allows us to project future price moves by extrapolating the fractals and patterns found on the charts.

How To Trade Forex Using Support and Resistance Levels

CAD/JPY

 

CAD/JPY 15-Dec-22:00 -> 14-Jan-22:00 Target Level: 81.9410

SL: (A) 81.5025 Last TP of Channel Up Target Period: 3 days   Interval 4 hour Pattern Channel Up Length 73 Candles Identified 13-Jan-22:00

Channel Up identified at 13-Jan-22:00. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 81.9410 within the next 3 days. Supported by Upward sloping Moving Average

Getting to demand zones

 Getting to demand zones are also important to make good trades. If you arrive to the demand with large red candles showing panic and fear, you are going to have a bigger move up on the charts. The large red candles signal that traders who wanted to sell has now exited the stock or Forex trade. When buyers step in they must raise their bids quickly to attract a seller who may still be around. If the arrival to the demand zone is quiet, there are still many traders holding  the stock who are looking to sell at a smaller loss when the bounce takes place. This added supply will stop the bounce of price from the demand level or support.

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EUR/USD

 

EUR/USD 29-Dec-16:00 -> 13-Jan-12:00 Target Level: 1.2132

SL: (A) 1.2132 Last TP of Falling Wedge RL: (B) 1.2223 Last TP of Falling Wedge Target Period: 3 days   Interval 1 hour Pattern Falling Wedge Length 183 Candles Identified 13-Jan-11:00

Falling Wedge identified at 13-Jan-11:00. This pattern is still in the process of forming. Possible bearish price movement towards the support 1.2132 within the next 3 days. Supported by Downward sloping Moving Average

EUR/CHF

 

EUR/CHF 16-Dec-18:00 -> 13-Jan-14:00 Target Level: 1.0868

SL: (A) 1.0806 Last TP of Triangle RL: (B) 1.0868 Last TP of Triangle Target Period: 3 days   Interval 4 hour Pattern Triangle Length 64 Candles Identified 13-Jan-02:00

Triangle identified at 13-Jan-02:00. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 1.0868 within the next 3 days. Supported by RSI below 40