Elliott Wave analysis provides a comprehensive method of technical analysis based on crowd psychology and pattern recognition. The challenge most trader's confront is translating Elliott Wave into tradable strategies. In this video, noted Elliott Wave analyst Jeffrey Kennedy explains how the Wave principle can be used to improve trading. Broadly speaking, the Wave principle can assist in: identifying a trend; identifying a countertrend; identifying the termination and resumption of a trend; identifying high probability trades;and identifying high-risk market conditions. In the classic, 5-wave trend and 3-wave correction pattern, Kennedy advocates entries at the outset of Waves 3 and 5 during the major move and at the outset of waves A and C on the corrective move. Kennedy then discusses how to trade a variety of continuation patterns, such as zig zags, triangles, flats, and diagonals, providing viewers with clear entry and exit points. Kennedy emphasizes that Elliott in and of itself is not a trading methodology, rather it provides a context for market analysis and finding low risk/high reward trades. The video concludes with Kennedy providing his long-term projections for agricultural commodities, energy, and metals. Viewers of the video will learn:
- The basic Elliott Wave patterns
- The best trading areas in both impulse and corrective waves
- How to trade complex waves
- Long-term Elliott Wave patterns in agricultural commodities, energy, and metals
Filled with examples from recent market activity, Kennedy shows how to translate Elliott Wave analysis into real-world trading strategies.
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