Tuesday, December 1, 2009

Eur/Usd Possibilites

Hi Forex Educator,

Let me explain my way of trading with Elliott Wave..

When a wave is beginning to unfolding, it’s almost impossible to guess which wave is forming or unfolding. If we try to pick up one exact wave count of many possible waves, it will be wrong most of the time. No one know what comes next, right?

For example, this Eur/Usd daily chart,, we all the know that wave 3 is finished unfolding and right now its hard to say which 4th wave corrective is unfolding.. It might be Zigzag, Flat, triangle and complex..

So I open up all the possible wave count for give price action, and to identify high probability trade signals that are generated when all of those possible counts show that price might be moving in the same direction. Right now in Eur/Usd pair, once 4th wave correction is unfolded, then all the possible counts will show that all pair could be moving in the up direction which will be high probability trade..

Often all the possible wave counts for a certain segment of price action will point in the same direction. Those are the high-confidence and high possibility trade setups that I look for.

Its my way of using Elliott Wave. I have learnt it from Justy who is used to post Elliott wave analysis in DailyFx forum..


Financial Journalist said...

Different possibilities, then how should we trade?

Vijay Sharan said...

I have answered you in the post above, pls chk.

Anonymous said...

Thank you very much!

Tamilio said...

Hi BB,

Its a very good way of trading elliott wave..

You are doing very good job in chart analysis.. keep working!!