I frankly cannot imagine trying to take on this style of trading without what you are doing. I recently signed up and I am very impressed with the autocount function and the overall look and feel of this app! Keep up the good work! I just signed up for the wave basis. I really like multiple windows for same symbol. I signed up on your program and am very impressed with the innovative yet simple Elliott wave analysis tool.
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Introducing The future of wave analysis. Easy Trading Signals. Others Others. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
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This cookie is set by doubleclick. This cookie is set by Youtube. This cookies is set by Youtube and is used to track the views of embedded videos. It consists of a three-wave correction or otherwise known as the ABC corrective pattern ZigZag correction. Similar to the motive wave patterns, we have uptrend and downtrend corrective wave patterns with similar characteristics in opposite directions.
Since the trend still remains up, some traders will enter the market and will initiate the beginning of the second wave — Wave B. But as the first wave decline is obvious to buyers many of them will decide to exit the positions resulting at the beginning of Wave C.
At this point, quite a few short-sellers are attracted to join in pushing the market further down. Downtrend attracts few sellers to enter the market at the beginning of the second wave, or Wave B initiating a weak rally move. As the third wave Wave C begins, those sellers observing an increasing move in Wave A will quickly exit the market prompting other buyers to join in and push the market higher.
We have described the wave behavior in the previous paragraph using Elliott Wave theory and observed how market participants initiate various stages of the wave patterns. But how do you interpret those waves and how do you identify when it is the right time to enter or exit the market? The key idea in Elliott Wave trading strategy is to understand the psychology behind the market and quickly recognize the optimistic and pessimistic swings.
In other words, we need to know when the markets are becoming bullish and when they will be bearish. The market in a bullish state consists of investors with a strong appetite for placing more trades and going long.
It is the correction phase of the market. Before you start following the EW theory in an actual market, you need to know where you start counting the waves. It is not always easy to identify the wave type at any given moment. Hence, we recommend that you count at an extreme swing high or low. It means that you are identifying the movement of the price in the opposite direction. Of course, it is the simplified application of the theory which will not be very useful for advanced traders.
If you want to analyze the market wave pattern in-depth it is better to start counting the waves from the weekly or monthly charts. The EW principles state that a trader should count from the end of the previous impulse wave.
We have mentioned previously that not many traders rely on the Elliott Wave method as a stand-alone strategy to trade Forex anymore. Instead, they combine various tools and technical indicators to achieve efficient trading. The most frequent strategy that EW Forex traders take is supporting their EW analysis with the following three technical tools:. Some of the patterns described in Elliott Wave theory, such as corrective wave patterns are too complex to handle for a beginner trader.
It even confused professional ones from time to time. That is why experts frequently recommend using the specialized platform for EW trading that offers advanced Elliott Wave charting functionalities, supports required technical indicators such as RSI, MACD, and Fibonacci, and has a simple interface. In most cases, you will meet the MetaTrader 4 and MetaTrader 5 platforms with EW strategy implementation, but sometimes the proprietary software options work the best.
We will cover several Forex trading software for the Elliott Wave theory application that proved to be the best choices currently available on the market. It is a ground-breaking MetaTrader 4 system often utilized by various types of traders due to its flexibility and suitability for different strategies and trading applications.
The extensive range of numerous combinations of advanced tools and theoretical rules SWAT allows its users to approach both trending and ranging markets in an efficient way. The guides that come along with the system provide insight into the application of Elliott wave Forex analysis and indicators used for determining entry and exit levels and scaling in and out.
SWAT can be an infinite resource for Elliott Wave analysis offering reliable rule-based and discretionary-based solutions. Apart from various methods and tools supported on the platform, traders can access original five-wave trading systems out of which three are with the trend and two are counter-trend. One of the unique concepts of SWAT is Wizz target levels which allow traders to spot the wide-open spaces on the price charts and apply EW analysis for identifying the top trending spots with the help of Fibonacci sequence levels.
Wizz levels are also often used for safe targeting of the existing trades. Furthermore, SWAT offers lifetime access to world-class indicators and strategy templates with custom-designed analysis tools and charting systems.
The users can track the markets, conduct various analyses and use multiple tools on three available dashboards. The platform does not come with any hidden costs, or even upgrade requirements.
Apart from all the benefits that EW traders can get from SWAT, there are numerous educational materials available for the platform users with lifetime access including videos, templates, additional indicators, and complete support from Chris Svorcik the author of SWAT and the EliteCurrenSea team. Another thing that SWAT designers paid a lot of attention to is risk management. The clients can access multiple risk and trade management setups along with the money management systems such as risk to reward rations R: R and take-profits and stop-loss systems.
For advanced traders, SWAT provides access to ecs. SWAT live trading sessions but for a limited period of time. These live trading sessions offer an insight into how Chris and the rest of the class use Elliott Wave analysis for Forex trading. The educational package includes Forex basics which is a hour course covering MetaTrader 4, Candles, Trend Channels, Patterns, and more, and SWAT, a 9-hour course including proprietary tools and strategies, three trading approaches, and more.
The list of the available indicators on SWAT 2. Finally, we have to cover the pricing of the product. The price of SWAT will differ for wave traders and non-wave traders. Those who are familiar with Elliott Waves trading can subscribe to a monthly SWAT plan for euros including the platform and setups along with the listed technical indicators and strategies.
For non-wave traders, SWAT will offer simple indicators such as swat. It is available for euros for a 4-month subscription with platform and setups. WaveBasis is a web trading platform that is primarily used for technical analysis and automated Elliott Wave trading. This proprietary web-based software provides access to exclusive tools that target wave analysts using EW patterns in day-to-day trading. WaveBasis runs an advanced pattern recognition engine that is automated to determine high probability and valid EW counts.
WaveBasis was built using its special Smart Tools and Wave Count Scanner to suit the needs of the most professional Elliott Wave trading experience along with low-risk potential identification features and a price pattern-based risk management system.
The company is expanding rapidly and currently offers using Elliott Wave analysis for all major markets including stocks, Forex, CFDs, cryptos indices, and futures. WaveBasis is now present in over countries worldwide and so far it has calculated more than 1. WaveBasis is renowned for its highly customizable and flexible workspaces along with ground-breaking charting and technical analysis functionalities. It is considered one of the best Elliott Wave software with high-quality features for both experienced and novice EW traders.
But in this clever video, you'll discover that just about anyone can count waves. Yes, even a 3rd grader. Whether you're new to Elliott or just want to brush up on the basics, you'll be spotting patterns within minutes as you discover the building blocks of Elliott. Watch now. Want to predict the next big thing in fashion, film or pop music? What about developments in the economy, politics and societal health? Get the Edition in our Crash Protection Package. Get Started Now.
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