Wednesday, November 5, 2014

Trade Forex: Fundamentals or Elliott Wave?





www.forextradingseminar.com



When we look at how financial markets move and the patterns that are formed sometimes we wonder what is causing the move and what should we really be paying a attention to. The people who use news and fundamental analysis only can often be seen to be trading "blind" and have no idea that a trend will end or how a correction will unfold.   At the same time we can hear the proponents of trading with fundamentals say the same thing about people using technical analysis.



In my experience using Elliott Wave analysis has always worked beautifully and I can always tell what the market is doing and sometimes amaze myself by how accurately the market can be read using just the visual clues.  It is like ready a road map or learning a new language.



However, fundamental analysis such as is used by Jarratt Davis, John Kicklighter of Daily FX, and Anton Kreil.  can also be crucial to help understand how pattens can form when there is more than one possibility and when there is uncertainty.



In this video I mention how I use these resources for Forex news and fundamental research and commentary.  Forex Factory, Daily FX, Bloomberg, Reuters, Financial Sense, Financial Juice, Trade The News, and Ransquawk.  With a few minutes of research you can often get a more clear picture of what is about to happen at the time of the next risk event or major news announcement.



This video shows how the market moved at the time of the FOMC statement release going back over the last 2 years on just one currency pair, the EUR vs. USD.  Once you see how the Forex market reacts to major news events and if you have seen my previous 3 videos that show How to Trade Forex Non Farm Payroll and FOMC you will have a lot more clarity and certainty about the next trade.



Pro Forex Trading Strategies - Fundamentals or Elliot Wave

1 comment:

  1. Elliott Wave Theory is a method of technical analysis that looks for recurrent long-term price patterns related to persistent changes in investor sentiment and psychology. The theory identifies waves identified as impulse waves that set up a pattern and corrective waves that oppose the larger trend.
    elliott wave theory online

    ReplyDelete