In today's short educational video, we're going to be examining the stock of Wal-Mart (NYSE:WMT). We will be using Fibonacci retracement, R.N. Elliott's wave principal, and the moving average convergence divergence, better known as the MACD indicator, to analyze Wal-Mart (NYSE:WMT).
The video runs about seven minutes and I think you'll find it very interesting on several different fronts. Putting all of these methods together in addition to our Trade Triangle technology produced some excellent results for this market. I also have a special bonus for you at the end of the video.
I hope you enjoy the video and more importantly learn how to use the technical tools mentioned so you can add them to your trading arsenal.
Explore the rules, guidelines and Fibonacci multiples of impulse waves
By Elliott Wave International
Impulse waves are an integral part of the Wave Principle. Understanding their rules, guidelines and Fibonacci multiples will improve your application and your ability to identify high-confidence trade setups.
There are three rules that govern impulse waves:
wave two may never retrace more than 100% of wave one;
wave three may never be the shortest impulse wave of waves one, three and five. It does not have to be the longest, but it may never be the shortest; and
At MarketClub our mission is to help you become a better trader. Our passion is creating superior trading tools to help you achieve your goals -- no matter which way the markets move -- with objective and unbiased recommendations not available from brokers.
The Trader's Toolbox posts are just another free resource from MarketClub.
"MarketClub is known for our “Trade Triangle” technology. However, if you have used other technical analysis indicators previously, you can use a combination of the studies and other techniques in conjunction with the “Trade Triangles” to further confirm trends.
Elliott Wave Theory categorizes price movement in terms of predictable waves. Beginning in the late 1920s, R.N. Elliott developed his own concept of price waves and their predictive qualities. In Elliott theory, waves moving with the trend are called impulse waves, while waves moving against it are called corrective waves... "