HOW TO INTERPRET EACH ELLIOTT WAVE CHART FORECAST |
Don’t Attempt to Trade every Twist and Turn shown on the ChartWaveTrack’s Elliott Wave forecasts are unique to this area of finance because each chart illustrates the exact pattern price activity is likely to follow into the future and not just a trend line. This means that the pattern forecast is drawn to its full completion, commonly resulting in several price swings within the time-frame viewed. The pattern drawn may have identified specific price reversal targets for several of the swings within it, annotated above/below the conclusion of each wave sequence. In which case, they can be relied upon although negation levels will also be highlighted on such occasions. Where a pattern is drawn to a conclusion but specific price targets for each swing are not specified, ensure you do not attempt to trade these reversal levels. The pattern displayed is shown simply to qualify its correct identity as it progresses and approaches its conclusion. The danger is that for each pattern, particularly five wave impulse sequences, there is more than one way in getting to the destination. Slight variances can occur, but enough to throw a position out of the market if entered late or too far away from the correct negation or invalidation level. |
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