SubscribeThe system comprises of the following indicators:
1.Fibonacci
2.Elliot wave
3.candlesticks formation
The Fibonacci retracement levels:0.382,0.250,and 0.750 are very important because trading currencies with Fibonacci tools has been some traders strength in the forex market.
Elliot wave:The primary reason for introducing this powerful trading strategy is to prove the power of Elliot wave theory because it is one of the best indicators that could be used to determine the markets movement from down to top and back down.I have discovered why many traders lose money and also trade the currency market without confidence.The Elliot wave will take traders to the highest altitude and build their confidence from wider viewpoints;it also shows traders how the market is operating.
The Elliot wave is an analysis of the underlying structure of the foreign exchange market.It helps to know the tops and bottom of the market.The wave sequence consist of fives corrected by threes.The sequence remains constant no matter what degree of wave is being analyzed and the wave rhythm is observable as long as there is a minimum amount of trading volume.
Elliot wave could be stretched or compressed(both in time and price)but the underlying form remains constant and,the movement will unfold in it primary direction in series of 5 waves,labeled 1 through 5 waves.
A5 wave movement is normally corrected by a 3 wave movement in the opposite direction.The movement waves(1-5)are called cardinal waves while(1,3,and 5)are called impulse waves.The corrective waves are designated with small letters (a,b,c,d,e).
In real time you are only right when you make money.learn more about Elliot wave and Fibonacci to make more profit in your trading.
Happy trading.
Discover trading strategy that i use with success and more visit http://www.freeonlinetips4u.blogspot.com
Article Author :Stan_Dave
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