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Random article: Elliot Waves
Elliot Wave Theory as mathematical theory about identifiable models determining behavior of society or financial markets was offered by Ralph Nelson Elliot in 30-s of 20th century. Elliot distinguished eight models that are regularly repeated. At present, one can say that results of Elliot's observations for market are “fractal”, but this term came later from theory oh chaos, although Elliot defined that theory by describing components of wave theory and their interrelation. The first book of Ralph Elliot “The Wave Principle” came off the press in 1938. Then in the beginning of 1939 Elliot write 12 articles by order of “Financial world” magazine and in 1946 year he united all his works in the final writings “Nature’s Law — The Secret of the Universe”, and this books becomes the best of his works.
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Popular article: Forex Reversal patterns: Head and Shoulders etc.
A number of reversal patterns is indicated in Forex: Head and Shoulders, Double top, Double bottom, Triple top, Triple bottom, Diamond. Head and Shoulders Top – is a classical reversal pattern of technical analysis, which is formed following to a long upward trend. The model is considered to be fair reliable and is often formed. But despite above-mentioned, many beginning traders do not manage to take profit using this graphic pattern. The reason is that positions are opened prior to forming this model. Let's figure out the structure of the figure and its formation on the chart of trading terminal. The model consists from three subsequent price extreme points, the middle one is higher than others (head), and the rest two are below the middle one and are roughly equal (shoulders). All three uphills are supported by the neck line.
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Features of the analysis of Japanese candlesticks
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