FOREX THEORY
What Is The Elliott Wave Theory For Forex Markets ?
The Elliott Wave Theory can be applied to most all financial markets not just forex. It holds that markets go up in waves of 5, and descends in waves of 3. That is a relatively simple concept – but, as always, the devil is in the details. In wave theory the devil is in counting what is a wave. To add to it there are Grand waves, major waves, minor waves, micro waves, etc.
There are many books on Elliot wave as well as financial websites that use the theory for their predictions. Just Google ‘Elliot Wave’.
A nice introduction can be found at: http://www.acrotec.com/ewt.htm
Hope this Helps
For an introductions
Forex Trading – BKT Weekly 10.10.08- Trading Reality Vs. Theory
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