Do you use some program, software or indicator for wave labeling?
No, we do each analysis manually. The human eye is far more capable than a software, when it comes to pattern recognition.
What will happen next?
The first thing you should know is that on the markets there are no guarantees, only probabilities, so we can never say something “will” happen for sure. What we give you is a forecast and we cannot express any certainty when it comes to specific developments, figures and/or levels. On this website you will see only the most probable (according to us) scenarios, because a guaranteed one does not exist.
Why are you not mentioning entry points?
We rarely mention entry points, because we do not provide trading signals. What we give you is a forecast. Whether you decide to trade according to it or not is up to you. How you trade it depends on your personal risk management and money management.
What do the red and green lines on the chart mean?
We use the red and green lines to show you the general direction of the market as we see it. A method, which can predict every single pip-move does not exist, so trying to forecast every minor swing is pointless. In our opinion, the direction of the larger trend is far more important, because trading pays off better with the trend and not against it.
When will the target be reached?
Technical analysis, in general, and the Elliott Wave Principle, in particular, rarely provide an answer to the “when” question. What every technical analyst cares about is whether his target will be reached or not, regardless of when it will be reached. Patience is a virtue.
Which markets is the Elliott Wave Principle applicable to?
The Elliott Wave Principle can be applied to any market with high enough number of participants.
What time-frame should I use in my trading?
What time-frame you should use depends on the risk you are ready to take and the time you are ready to wait until the particular trade gives the results you expect from it. The bigger the period, the greater the risk you take and the longer you will have to wait.