Price levels is the answer. "On whatever time frame you are looking at, there are certain price levels that will trigger a different expectation from the Elliottwave count.”
Dayton, OH (PRWEB) May 27, 2013
Even though many markets are at all-time highs, and many others that were expected to crash have not, the uncertainty of both European politics with the German election looming as described in a GMF blog post and woeful economic decay in many of the leading European countries, such as Spain that is illustrated by the Atlantic Journal, has led to uncertainty and confusion for corporations, investors, and traders. CaesarTrade FX-CFD feels that the solution for this unwanted apprehension is to observe the price action of the financial markets for indications of further movement and expected direction of economies worldwide. As a free service, Eric Harbor, ceo CaesarTrade, has recently published an Elliottwave analysis on the Euro on the Forex Minute website.
Elliottwave analysis is a form of technical analysis that has developed since the 1930s and has attracted many followers throughout the decades. Some of the major appeal to this observation is the simplicity of the rules: three waves up and two waves down. The concept of fractals where small time frames represent larger times frames, allows the market participant to trade on different time frames. While the rules are objective, the application of it in real-time is subjective and creates differing opinions, where some swear by it and others call it less than favorable. CaesarTrade FX-CFD finds in it a way of keeping track of the market and deriving observations.
“I have this long-term chart of the Euro that still says it should rally and now I have this 4 hr chart that says a retest past its recent lows is very likely, so what is a trader to do?” questions Eric Harbor, ceo CaesarTrade FX-CFD. “Price levels is the answer. On whatever time frame you are looking at, there are certain price levels that will trigger a different expectation from the Elliottwave count.”
To follow and see how a market practitioner uses Elliottwave to develop expectations, please visit CaesarTrade FX-CFD analysis at http://www.forexminute.com/technical-analysis-reports
For an engaging interview on technical analysis, such as Elliottwave, that will excite the passions of even the most ardent fundamental trader, Eric is available for interview and can be reached at +1-937-581-4244. Eric runs a growing online Forex company, http://www.caesartrade.com that offers traders personalized experience.