Dayton, OH (PRWEB) July 31, 2013
The British Pound has been a currency that many investors and traders are looking at as there is a new head of the Bank of England. Some Economic Data is encouraging while some are not in regards to Britain. This week there will be an announcement on interest rates that many feel will be more dovish than Europe and the US, which is why the currency has been weak of late.
There is one perspective that many traders and investors look at but rarely covered is Elliottwave analysis due to the subjective nature of it and, quite possibly, the many different variables. Eric Harbor, ceo of CaesarTrade FX-CFD, presents it in an engaging and easy to understand way in his daily comments that can be found at ForexMinute so traders who are not used to it can better understand the powerful strengths of this analysis.
The most important aspect of Elliottwave is that macro-economic prices move in five wave patterns and, if they do not, one should expect that they will or a correction will occur. Since the timing of these moves and the volatility may arouse confusion and angst, Eric has always stressed the important aspect of analysis: price levels.
“The Elliottwave count is easy: five waves up, and three wave down,” says Eric. “Of course, reality is never that easy so after having an assumption of price direction, it’s important to write down price levels that agree with your assumption. That is the only way to reduce your risk and have high confidence in using this analysis.”
Eric has issued several press releases on Elliottwave analysis with a very good track record. He is most proud of calling the bottom in the Euro while everyone had panicked and can be read here.
If you are looking for a different and fresh perspective on the wild world of trading, he is available for interview and can be reached at +1-9375814244 or eric (at) caesartrade.com