Excerpt From Report - "Boost Your Forex Success"

An excerpt from our free 14-page report shows you how the Elliott Wave Principle can "Boost Your Forex Success"

By Elliott Wave International

I always say trading forex markets is like riding a bike -- except that said bike has one flat tire and the ground beneath it is covered in ice.
So why are they so popular, you might ask? In fact, forex is the most liquid market on earth, where trillions of dollars change millions of hands every day.
The reason people are so willing to ride that bike -- so to speak -- is because if you can stay on, the rewards are often unmatched. The trick, of course, is staying on.
There's no such thing as a fool-proof strategy. Slips and scrapes are bound to happen. But as the title of Elliott Wave International's chief currency strategist Jim Martens' go-to guide reveals, there is definitely a way "The Elliott Wave Principle Can Boost Your Forex Success."
Here below, you can read an exclusive excerpt from Chapter 1:

Chapter 1: A Useful Trading Methodology

Of the many ways the Wave Principle can improve trading success, for me, points 1, 2, and 6 are the most important. I like to trade with the trend, and the Wave Principle allows me to identify that trend...

The setup waves -- the waves we're trying to identify in order to prepare for the trading opportunities -- are wave (2), wave (4), and wave (B)...
Let's concentrate on trading wave (3), since it is usually the strongest and longest wave, and its trend is clear. That means that we want to identify the wave (2) that will lead into a strong third wave.

Now, let's jump off the page and into the real world where you can see exactly how Jim used this one simple lesson to identify a major turning point in euro/dollar (EURUSD).
The time was mid-2014. The euro was orbiting a 2-and-1/2 year high against the U.S. dollar. But, as early as mid-May, Elliott wave patterns already showed cracks in the euro's bullish case. And on June 27, Jim recorded an urgent video for his Currency Pro Service subscribers in which he warned the buck's luck was about to change.
You can listen to a clip from Jim's June 27, 2014 Currency Pro Service video right here. Note the basis for Jim's dramatic forecast -- an imminent third wave.

Soon after, the EURUSD followed its Elliott wave script. The third wave initiated the market's largest annual decline since 2005 and pushed the U.S. dollar to its highest level in 12 years.

Riding forex "bike" isn't easy. But right now, you can utilize the "training wheels" of Jim Martens' enduring classic "How to Use the Wave Principle to Boost Your Forex Success" -- free. With 14-pages of original analysis, detailed charts, and timeless trading examples, this report is a must-have for every serious trader in not just currencies, but every single financial market.
The best part is, the entire report is available at the incredible discount price of $0.00! Yes, you read that right. Jim's "How to Use the Wave Principle to Boost Your Forex Success" is ready to view as soon as you become a free Club EWI member, a 325,000 member-strong online community of your fellow Elliott wave fans.
Get free, instant access to this resource now.

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This article was syndicated by Elliott Wave International and was originally published under the headline The U.S. Dollar's 2014-2015 Rally: Wave 3 in Action. EWI is the world's largest market forecasting firm. Its staff of full-time analysts led by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to institutional and private investors around the world.

Identify Support and Resistance

3 Ways to Identify Support and Resistance - 5 Chart Examples

By Elliott Wave International

Today's lesson considers three ways to identify price support and resistance in the markets you trade.

1. Previous highs and lows
2. Trendline support
3. Fibonacci Ratios

These examples are adapted from Jeffrey Kennedy's Trader's Classroom service.

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1) Uptrends terminate at resistance while downtrends terminate at support. Previous highs and lows often act as resistance and support.
In ALCOA Inc (AA), the September 2012 selloff found support near the previous July 2012 low.

The February 2013 peak occurred following a test of resistance at the January peak at $9.33.
2) Trendlines offer resistance and support for prices.
The 2008 advance in Gold found support numerous times near the trendline that connected the lows of the move, as you can see below:

Conversely, the trendline connecting the highs of Wheat's 2012-2013 decline provided resistance for countertrend price action.

3) Fibonacci ratios also identify resistance and support. As Elliotticians, we often look at retracements, the most common being .382, .500 and .618. In Akamai Tech, Fibonacci support ignited the July and November 2012 rallies:

In the same chart you can also notice how Fibonacci resistance in AKAM halted the July 2012 and February advances.

For more free trading lessons on trendlines, download Jeffrey Kennedy's free 14-page eBook, Trading the Line -- 5 Ways You Can Use Trendlines to Improve Your Trading Decisions. It explains the power of simple trendlines, how to draw them, and how to determine when the trend has actually changed. Get instant, free access to this eBook.

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Improving Your Wave Analysis Skills

(Video) Gain Trading Confidence by Improving Your Wave Analysis Skills
A lesson from Elliott Wave International's Jeffrey Kennedy

By Elliott Wave International

How do you distinguish between a "good" Elliott wave count and a "bad" wave count?
In this lesson from our educational service for traders called Trader's Classroom, editor Jeffrey Kennedy walks you through the steps you should use to achieve a quality Elliott wave count.

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Get 6 Lessons to Help You Find Trading Opportunities in Any Market Analyst Jeffrey Kennedy is author of dozens of Elliott Wave International's educational products, and he is one of our most popular instructors. In these 6 lessons, Jeffrey utilizes several of his favorite tools to show you different ways to spot trading opportunities. The methods he uses can be applied across any liquid market and any time frame. Access your 6 free lessons now >>

This article was syndicated by Elliott Wave International and was originally published under the headline (Video) Gain Trading Confidence by Improving Your Wave Analysis Skills. EWI is the world's largest market forecasting firm. Its staff of full-time analysts led by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to institutional and private investors around the world.

How to Find Trading Opportunities in ANY Market: Fibonacci Analysis

In this article, Elliott Wave International's Jeffrey Kennedy demonstrates ways to spot trading opportunities across any market and timeframe.

By Elliott Wave International

Elliott Wave International's Senior Analyst Jeffrey Kennedy is the editor of our Elliott Wave Trader's Classroom and one of our most popular instructors. Jeffrey's primary analytical method is the Elliott Wave Principle, but he also uses several other technical tools to supplement his analysis.
You can apply these methods across any market and any time frame.
Learn how you can get a free 14-page Fibonacci eBook at the end of this lesson.

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The primary Fibonacci ratios that I use in identifying wave retracements are .236, .382, .500, .618 and .786. Some of you might say that .500 and .786 are not Fibonacci ratios; well, it's all in the math. If you divide the second month of Leonardo's rabbit example by the third month, the answer is .500, 1 divided by 2; .786 is simply the square root of .618.
There are many different Fibonacci ratios used to determine retracement levels. The most common are .382 and .618.
The accompanying charts also demonstrate the relevance of .236, .382, .500 .618 and .786. It's worth noting that Fibonacci retracements can be used on any time frame to identify potential reversal points. An important aspect to remember is that a Fibonacci retracement of a previous wave on a weekly chart is more significant than what you would find on a 60-minute chart.
With five chances, there are not many things I couldn't accomplish. Likewise, with five retracement levels, there won't be many pullbacks that I'll miss. So how do you use Fibonacci retracements in the real world, when you're trading? Do you buy or sell a .382 retracement or wait for a test of the .618 level, only to realize that prices reversed at the .500 level?

The Elliott Wave Principle provides us with a framework that allows us to focus on certain levels at certain times. For example, the most common retracements for waves two, B and X are .500 or .618 of the previous wave. Wave four typically ends at or near a .382 retracement of the prior third wave that it is correcting.

In addition to the above guidelines, I have come up with a few of my own over the past 10 years.
The first is that the best third waves originate from deep second waves. In the wave two position, I like to see a test of the .618 retracement of wave one or even .786. Chances are that a shallower wave two is actually a B or an X wave. In the fourth-wave position, I find the most common Fibonacci retracements to be .382 or .500. On occasion, you will see wave four retrace .618 of wave three. However, when this occurs, it is often sharp and quickly reversed.
My rule of thumb for fourth waves is that whatever is done in price, won't be done in time. What I mean by this is that if wave four is time-consuming, the relevant Fibonacci retracement is usually shallow, .236 or .382. For example, in a contracting triangle where prices seem to chop around forever, wave e of the pattern will end at or near a .236 or .382 retracement of wave three. When wave four is proportional in time to the first three waves, I find the .500 retracement significant. A fourth wave that consumes less time than wave two will often test the .618 retracement of wave three and suggests that more players are entering the market, as evidenced by the price volatility. And finally, in a fast market, like a "third of a third wave," you'll find that retracements are shallow, .236 or .382.
In closing, there are two things I would like to mention. First, in each of the accompanying examples, you'll notice that retracement levels repeat. Within the decline from the high in July Sugar (first chart), each countertrend move was a .618 retracement of the previous wave. The second chart demonstrates the same tendency with the .786 retracement. This event is common and is caused by the fractal nature of the markets.
Second, Fibonacci retracements identify high probability targets for the termination of a wave; they do not represent an absolute must-hold level. So when using Fibonacci retracements, don't be surprised to see prices reverse a few ticks above or below a Fibonacci target. This occurs because other traders are viewing the same levels and trade accordingly. Fibonacci retracements help to focus your attention on a specific price level at a specific time; how prices react at that point determines the significance of the level.

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Learn How You Can Use Fibonacci to Improve Your Trading If you'd like to learn more about Fibonacci and how to apply it to your trading strategy, download the free 14-page eBook, How You Can Use Fibonacci to Improve Your Trading. EWI Senior Tutorial Instructor Wayne Gorman explains: The Golden Spiral, the Golden Ratio, and the Golden Section How to use Fibonacci ratios/multiples in forecasting How to identify targets and turning points in the markets you trade And more! See how easy it is to use Fibonacci in your trading. Download your free eBook today >>

This article was syndicated by Elliott Wave International and was originally published under the headline How to Find Trading Opportunities in ANY Market: Fibonacci Analysis. EWI is the world's largest market forecasting firm. Its staff of full-time analysts led by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to institutional and private investors around the world.

Trendlines Are Your New Best Friend

Here's Why Trendlines Are Your New Best Friend, Part 1
See how trendlines show you lasting price levels of risk-defining support in this real-world example from this free eBook

By Elliott Wave International

If financial market speculation were easy, then everyone would be well off -- and the legendary investor Warren Buffett would be just a nice rich guy from Omaha with really cool glasses.
The reality is, successfully navigating the near- and long-term trends is exceptionally difficult. Gains can be big, but losses can often be even bigger.
Technical analysis offers you an all-you-can-watch buffet of indicators to help reduce your risk and optimize rewards. You may already be using moving averages or momentum indicators, for example -- and you know how helpful they can be at anticipating trend changes.
Well, let us introduce you to another excellent tool: trendlines.
For the past 15 years, Elliott Wave International's chief commodity analyst Jeffrey Kennedy has been using trendlines to identify high-probability trade set-ups in close to 20 markets he regularly follows.
You might be familiar with one of those markets, cocoa. In his May 2014 Monthly Commodity Junctures, Jeffrey showed subscribers how to apply trendlines to this volatile market:

So, the forecast was for cocoa to hold above the trendline -- and rally. The next chart shows you how cocoa prices did just that, soaring to Jeffrey's cited price target of 3200, and beyond:

Jeffrey finds trendlines so valuable that he wrote a book about them! Well, an eBook: a 17-pager titled "Trading the Line: 5 Ways You Can Use Trendlines to Improve Your Trading."
Here's an excerpt:

Now here's a neat little trick. In Figure 2-9, we use trendlines a different way. By connecting the two lines, we distinguish the breakout point. Later, it provides support when prices revisit the same line (circled).

Or, we can count the highs and take it from an intervening low, as seen in this soybean weekly chart. The reversal that occurred in price at the lower boundary line is circled.

As the title of Jeffrey's eBook states, there are 5 ways trendlines improve your trading:

1. Trendlines show you the dominant psychology of investors, be it bullish or bearish
2. They define your support and resistance price levels
3. They give you advanced warning of potential price breakout points
4. They help you identify critical moments in time
5. Trendlines also tell you when the trend has turned

Want to learn how to draw your own trendlines -- and gain an advantage you've never had before?
Check out the FREE "Trading the Line" eBook and discover 5 ways you can use trendlines to improve your trading decisions.
Get instant, free access to this resource
.

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EWI's Senior Analyst Shares Practical Advice

How to Build Consistent Trading Success

EWI's senior analyst Jeffrey Kennedy shares with you practical advice on what it takes to improve the quality of your trades.

By Elliott Wave International

You've heard it all before:

• If you want to trade using Elliott wave analysis, to succeed you first need to understand its rules and guidelines.
• You need a clearly defined trading strategy (what? when? how? etc.) and the discipline to follow it.
• Additionally, your long-term success depends on adequate capitalization, money management skills and emotional self-control.

Do you meet these qualifications, yet still struggle in the markets? If so, you may find some helpful advice in this quick trading lesson from Trader's Classroom editor, Jeffrey Kennedy:

We all know that the Elliott Wave Principle categorizes 3-wave moves as corrections and, as such, countertrend moves. We also know that corrective moves demonstrate a stronger tendency to stay within parallel lines, and that within A-B-C corrections the most common relationship between waves C and A is equality. Furthermore, we know that the .618 retracement of wave 1 is the most common retracement for 2nd waves, and that the .382 retracement of wave 3 is the most common retracement for 4th waves.
Knowing that all of these are traits of countertrend moves, why do traders take positions when a pattern demonstrates only one or two of these traits? We do it because we lack patience. We lack the patience to wait for opportunities that meet all of our criteria, be it from an Elliott wave or another technical perspective.
What is the source of this impatience? It could be from not having a clearly defined trading methodology, or not being able to control emotions. However, I think impatience stems more from a sense of not wanting to miss anything. And because we're afraid of missing the next big move, or perhaps because we want to pick up some lost ground, we act on less-than-ideal trade setups.
Another reason traders lack patience is boredom. That's because -- and this may sound odd at first -- "textbook" Elliott wave patterns and ideal, high-confidence trade setups don't occur all that often. In fact, I have always gone by the rule of thumb that for any given market there are only 2-3 tradable moves in your chosen time frame. For example, during a normal trading day, there are typically only two or three trades that warrant attention from day traders. In a given week, short-term traders will usually find only two or three good opportunities worth participating in, while long-term traders will most likely find only two or three viable trade setups in a given month, or even a year.
So as traders wait for these "textbook" Elliott wave patterns and ideal, high-confidence trade setups to occur, boredom sets in. Too often, we get itchy fingers and want to trade any chart pattern that comes along that looks even remotely like a high-confidence trade setup.
The big question then is, "How do you overcome the tendency to be impatient?" Understand the triggers that cause it: fear of missing out, and boredom.
The first step in overcoming impatience is to consciously define the minimum requirements of an acceptable trade setup and vow to accept nothing less. Next, feel comfortable in knowing that the markets will be around tomorrow, next week, next year and beyond, so there is plenty of time to wait for the ideal opportunity. Remember, trading is not a race, and over-trading does little to improve your bottom line.
If there is one piece of advice I can offer that will improve your trading skills, it is simply to be patient. Be patient and wait for only those textbook wave patterns and ideal, high-confidence trade setups to act. Because when it comes to being a consistently successful trader, it's all about the quality of your trades, not the quantity.
Developing patience isn't easy -- yet, if you are serious about improving the quality of your trades, it is vital.
How much more successful would you be if you could develop the patience to act only on high-confidence trade setups?

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Want more? How about 14 more trading lessons like these -- 100% free? Get 14 more lessons in Jeffrey Kennedy's popular Best of Trader's Classroom eBook. You'll get 14 of the best lessons from his 6-volume Trader's Classroom Collection eBooks. Need a free login? Get free, instant access to the Best of Trader's Classroom eBook >>

This article was syndicated by Elliott Wave International and was originally published under the headline How to Build Consistent Trading Success. EWI is the world's largest market forecasting firm. Its staff of full-time analysts led by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to institutional and private investors around the world.

(Video) Socionomics Intro

The Introduction to Socionomics with Matt Lampert

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This article is syndicated by The Socionomist, a publication of the Socionomics Institute. The Socionomist is designed to help readers understand and anticipate waves of social mood. Copyright © 2017 Socionomics Institute.

Fibonacci Examples In A Chart of The S&P 500

Learn How to Apply Fibonacci Retracements to Your Trading 

See examples in a chart of the S&P 500

By Elliott Wave International

Fibonacci is the mathematical basis of the Wave Principle. You will often find that Elliott waves correct in terms of Fibonacci ratios. The following article explains what you can expect when a market begins a corrective phase.
If you are interested in learning more about using Fibonacci in your trading, get your free 14-page eBook, How You Can Use Fibonacci to Improve Your Trading.

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Retracements -- Corrective Waves

The chart on the left shows a wave 1 followed by corrective wave 2. It is common for second waves to retrace .618 of wave 1 -- thereby making a deep retracement. Another common retracement for wave 2 is .786. You might even see .5, 50%, but .618 is more common. The chart on the right shows the most common retracement for a wave 4. Fourth waves will commonly retrace a smaller percentage or .382 of wave 3. We might also see something like .236.
Examples
Below you can see an impulsive 5-wave move on the chart of the S&P 500. Wave 2 is an expanded flat. Wave 4 is a zigzag. Let's look at the retracements that waves 2 and 4 make.

Wave 2 made a deep retracement -- close to .618. On the Fibonacci table you can see the .382, .5, .618, and .786 retracements. The .618 retracement comes in at 1087.75 and the S&P low is 1090.19.

Wave 4 made a shallow retracement of wave 3. It went just beyond the .382 retracement at 1169.1, bottoming at 1163.75.
In a nutshell, this is what we mean when we say that Elliott waves often correct in terms of Fibonacci ratios.

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How You Can Use Fibonacci to Improve Your Trading If you'd like to learn more about Fibonacci and how to apply it to your trading strategy, download the entire 14-page free eBook, How You Can Use Fibonacci to Improve Your Trading. EWI Senior Tutorial Instructor Wayne Gorman explains: The Golden Spiral, the Golden Ratio, and the Golden Section How to use Fibonacci Ratios/Multiples in forecasting How to identify market targets and turning points in the markets you trade And more! See how easy it is to use Fibonacci in your trading. Download your free eBook today »

This article was syndicated by Elliott Wave International and was originally published under the headline Learn How to Apply Fibonacci Retracements to Your Trading. EWI is the world's largest market forecasting firm. Its staff of full-time analysts led by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to institutional and private investors around the world.

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Hey there, this is the Team at Business Own Corporation and we are passionate about increasing your productivity. In our Blog EWI Investor NEWS we will be providing exclusive investment information that will allow your investment journey to achieve probable success.

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What makes EWI unique?

More than 80 years in the market. From 1934 through the 50s and 60s R.N. Elliott's landmark discovery The Wave Principle has been quietly creating great success for the small circle of investors who use it as a forecasting tool. In 1977 it was introduced to the wider audience.

Today it Elliott Wave International (EWI) is the largest independent technical analysis firm in the world and is assembled with a team of 20+ analysts who are unique in the financial world.

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