Ralph Elliott – a financier, accountant, theorist, genius of financial market. He invented wave principle – method of market forecast. Elliott established that price movements are based on the “natural law”.
Wave analysis of the Forex market or Elliott wave principle is the type of technical analysis considering price to be similar to ebbs and flows. All price movements on the Forex market are subject to two types of waves:
- Impulse, or motive, phase – the waves which move price up or down (shown by digits)
- Correction phase: waves that respond to impulse (shown by letters).
Yesterday this pair had unpleasant prompt growth. After brief decreasing bulls had possibility to change the situation and drove back bears. Bears didn’t prepare to this and price had easy upward bounce. But this moving could be correction as simple zigzag. It is possible that the correction wave i
Pair has brought surprises, but this growth could be correctional in wave 2 of decreasing impulse. But it isn’t simple zigzag it looks like plane in which developing of final inside waves is ended. So bearish possibility have chance for realization but for opening position it is better to wait
USD/JPY hasn’t stay aside from this price moving. Japanese currency as other currencies has moved against USD and the price has decreased rapidly. But buyers returned influence on the pair and it is pointed on possibility of further growth. At the moment we can observe forming of correction as a w
Margin Trading in the Forex market contains risks and can cause in significant financial losses. Before deciding to trade in the foreign exchange market, make sure that you understand the risks according to your financial experience and knowledge.