How Elliott wave analysis helps you as a forex trader with built-in, risk-defining safeguards
Elliott wave analysis is not a crystal ball. (No market-forecasting method is.)
But here's what is remarkable: Even when your Elliott wave forecast doesn't pan out, you have built-in safeguards to alert you -- and help you manage risk. Here's a real-life example.
Going into the November 14 low, USD/JPY charts had been showing an impulsive downward Elliott wave pattern. Impulses are 5-wave moves, but on November 13-14, the pattern looked incomplete: the fifth wave down seemed to be missing.
Here's a chart our Currency Specialty Service subscribers saw early on November 13: Continue reading "USD/JPY: Lemons into Lemonade"