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What is a technical analysis of the market
The only aim of any trader in the trading market is, without a doubt, a positive trade balance, or rather the availability of tangible and, most importantly, more or less permanent income. It is not enough even ingenious trading skills required also knowledge. Coupled with the well proven strategies you need proper use in their work, the technical tools Forex: the different indicators and charts. One of the most popular instruments of foreign exchange market technical analysis of Forex.

Wave analysis appeared almost a hundred years ago – in 1934. His appearance modern traders are required to the American analyst Ralph Nelson Elliott. Elliott analyzed stock markets and noticed that the movement of the prices of some models is repeated. Moreover, the scientists found that these models are composed of the same, but smaller models and component parts of the main model. For twelve years analyzing Elliott found a lot of similar models, and in 1946 published the book "the Law of nature – the secret of the Universe". Labor disturbance in scientific circles, put Foundation for the study of the psychology of the masses and use the wave theory on trading exchanges.

It should be noted that used in Forex technical analysis is different from the standard, and this should be considered when designing transactions. Wave analysis of Forex market is, without exaggeration, the basis of trading on the Forex market. Forex, it seems to many beginners (and not only them) chaotic in the extreme, operates according to its laws, and wave – one of the keys to the secrets of the market. Its essence is that any trend movement consists of five waves consists of three impulse waves. After the end of the trend movement is a correction consisting of two moving waves and one corrective. The benefit of this the trader can obtain, using the patterns of price movement. The trader gets the ability to design variants of further movement and the minimum of the potential transaction, the ability to keep going in the profit wave until the closing of the transaction.

Category: Forex | Added by: (29.10.2017)
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