Must Read ArticleA.Day Trading Made EasyB.Wise Stock Investment Tricks C.F&O Trade TechniquesD.Currency Trading TechniquesE.Commodity Trading TechniquesF.Understand the EconomeyDay Trading Made EasyA.Learn intraday tradingB.Day trade using gann methodC.Day trade using fibonacci methodD.Day trade using elliot waveE.Day trade using technicalF.Introduction to decoupling methodDay Trading Made EasyA.My experiment on gann methodB.My experiment on fibonacci methodC.When to do day trade ?D.Why to use our intrday calculator ?E.Why to take our intraday call servise ?F.Best trade plan to win intraday trade ?
Day Trade Using Elliot Wave Principle
These action of violation is called wave failures. Many times you would have heard from the analysts that fifth wave failure happened in so and so counter. Some time some waves used to stretch beyond its permissible guideline parameter. This phenomenon is calls wave expansion . In order to give you some experience in wave principle of trading. we have devised one simple calculator for you. which is available on our calculator section. Two different approach is being followed by the analysts to forecast the trend as per the wave principle.
A.Wave count approach. Under this approach the analyst devise the long term cycle to smaller cycles.Then each wave in the long term cycle is studied and different wave
patterns are placed within it.After which an wave count report is produced which includes each primary waves sub wave,sub wave patterns,number of failure waves,consequence of these failure waves. Based on this data the future long term cycle is placed and trend parameter was get set. This process require in depth understanding of the wave principle and quite difficult to do manually. Though now a days many software's are available to help you in this.
B.Wave Pattern Construction Approach: Under this approach you need to construct the wave’s construction start and end points manually based on the wave rules for a prior trend. After which you need to find the failed waves or expanded waves. After this process you can forecast the trend passed on your past experience of wave construction. Do remember in this process you are not investigating the sub waves or the wave within a wave or smaller cycle wave inside the big cycle wave. However in the wave counting approach all those things are attended carefully. Also read the elliot wave calculator manual for extened set of example and explanation.Our Elliot wave calculator will help you in deriving some finest trade decision but it will not guide you in learning.
If you are a beginner then you must have to learn the wave rules and cycle rules. After which you need to under stand the 13 different wave patterns. This will completing your 1st step of learning. Then you need to study the price patterns applying the 2nd approach discussed by me . After gaining the gradual experience you can migrate to the wave count approach. you can complete your learning within few months with the help of software. But it is not impossible to master this technique without the help of software. I have published the complete wave rule and patterns on my book on Technical Analysis volume -3.you may find many more on web tooContinue