Turning points and confirmations entries.

Many traders always like to trade base in Illusions and speculations. We all keep guessing when the next turning point will be. We place our entry base in levels we created which range from Support or resistance to Fibonaccieslevels.We which use Elliott wave Principle for trading usually identify the pattern and we posted our orders in theFibonaccies levels that better fit the pattern. In our opinion, that is  a mistake because even the Elliott wave principleprovided a great deal of security and reading of the market , there is nothing sure and many times there are alternate counts.

We in Elliottwave-forecast do not trade base in speculation or illusion , we practice the Elliott wave principle and adjust a littler to this great tool. What we do is we identified the pattern , we go inside the pattern and see every wave and Fibonaccie  levels and then we relate to the recovery. Every recovery is not a one wave recovery usually come in a ABC pattern, after we identify the pattern  and the recovery is following we identify the points inside the structure that will that will confirm that this is a corrective recovery , the best example is within the ABC structure , lets said we have a clear 5 waves down or up , what we have is a recovery against those five waves , all we need is patience and wait and identify the end of wave A and let wave C to end .

After wave C end we will wait for the over lapping and that will confirm our entry making our stop being very small and our entry secure. This is a example of how patience will paid in the Forex trading and a simple overlapping will help your profits and consequently your economic .

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Eric Morera expert at Elliott Wave Forecast using Elliott Wave Principle

It is gold topped or will go higher.

Gold as everyone knows has been view as power , as money , as a symbol of King. Gold has reach the higher print of 1424.50 printed against the US dollar per ounce. Many believe this is hard to top and its too much. I will explain my point of view and how we believe in Elliottwave -forecast this Gold rally will play out.Gold has been rising since charts can be recorded and have make many corrections within that rise. We really believe in Elliottwave -forecast that Humans are in impulse trend when we came from nothing to the stone age to today world full of technological advances. Who would though 100 years ago all the advances we have today , Last night , I watch a movie about Amelia Earhart those plans compare to what we have today are nothing , the cars today compare to the one in the earlies days nothing. we live in a uptrend world when Humans take risk and develop new instruments which will make our world more and more advance. There are wars  and tragic events which develop  corrections within the Human up trend but at the end are erase and develop into something new and better .

This cycle has been there since the divine creation and will be going into eternity. I look around trying to find something through the ages , something which value has increases  with Humans and guess what I found .GOLD , it has been there thought years with the develop , many wars were fought because Gold , the value always been there and always will.We believe in Elliottwave-forecast the Gold will get into a correction from this level , our charts are backed to 1978 and this will be the biggest of all , it can drop to around 800 dollars per ounce but at the end King Gold will keep rising and rising and someday will worth more than 2000 dollars per ounce .that will happen with patience within the next six months we will have a good retirement plan if we start buying Gold in twenty years from now , who knows how much it will worth , the History of human grow show the trend , now it is so to you to get aboard.

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Eric Morera expert at Elliott Wave Forecast using Elliott Wave Principle

Elliot Wave Principle an Inside look.

It was early 1900 and a man named Ralph Nelson Elliott was forced to retirement due to a series of illness contracted while living in Central America. Mr. Elliot need something to rules his life and begins studying the behavior of the stock market. He went over Weekly, Daily and hourly charts. He notice that markets follow patterns and those will repeat them self over and over again. Mr. Ralph Elliott relates those patterns and stock behavior to the Nature’s Law or the Secret of the Universe. As we all know, we live in a universe where not everything is as simple as it looks. We are relate one to another and every individual has its own universe or rhythm, each part of the universe has its little world, it makes its own decision and follow its own destiny .

Human we are part of the whole universe and consequently being the smartest part we take decision that rule the universe or better said that rules the planet of Earth .Everything in this universe has a rule and it’s been created in a so called divine way. I believe  Humans are the only one to discovery those divine rules of creations and seeing how Flowers, Hurricanes , Human body all follow  ratios , which was not designed by us , was something superior .Mr. Elliot put all those concepts together and develop The Elliott Wave Principle. This powerful Theory will predict what the market will do next and identify the turning point. How we can say all this is true and why it’s happen. As mention before the market follow pattern, he discovery it moves in two ways Impulses and Corrective, the first way has five waves the second only three waves. Mr. Elliot discovery that there are multiple cycles going from a mini second to millenniums and each cycle is relate to the other creating a sequence where going from the lesser to the higher degree will develop a movements. Identifying the cycles is hard but as far as a cycle is identify it become a divine rules how predicted it become.

The Market is develop by Humans, where every investor will make decisions base in different opinions not only usingThe Elliott Wave Principle , this decisions will move the market and created waves . The investor are humans and also part of the Universe consequently they are ruled by divine forces, many of them do not even understand this simple concept , and make the decisions just as a machine in need of making decisions . Elliott understood that entire concept and in my opinion that was his bigger discovery understanding the Universe rules. Those waves are counted following the simple Elliot wave principle rules where a impulse is five waves where wave 2 cannot pass the beginning of wave 1 , wave 4 cannot print the end of wave 1 and wave 3 can not the shortest of the 3 impulse waves, if all three rules can be applied then we have a impulse move , if one of them is broke then we have a corrective move. Following those rules we are going to create our counts and develop ourtrading strategies. It looks simple right now but understanding the Universal rules and Human Nature is the motor behind the Elliott wave Principle

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Eric Morera expert at Elliott Wave Forecast using Elliott Wave Principle

Avoiding a common mistake using Elliott Wave Forecast

Many traders tend to spend many hours in front of a computer .For example, my self spend almost more than 12 hours a day. Those hours tend to make the trader create illusion and false decisions. The trader believe having  the right side of market and make a wrong decision .Then, the trader start questioning the decision and start losing money. This situation happen to many rookies traders and the question is why.

A trader need to understand that there is not need for a trade a day. The day you understand that waiting for you set up and waiting is the right way , then you start to become a better trader. I usually do one or two trades a month. Why because I have have set up my  strategy and I only trade when it present .If I miss a trade then I let it run until the cycle end and start over again, I do not chase the market or pick top or bottom ,so I only follow my set up and been patience is the way .

Keep one set up or strategy and stick with it .Many believe this is day time trade as they call it .and it is not like that this is a set up trade and as far as you respect your guideline and rules to follow your set up as better trader you become. I only use Elliott wave for trading and consequently if my set up gone and I did not get it , I have to wait for five waves to develop before I think about trading that pair again. I really suggest to make less trades every month but better quality trades. That will make you understand the market and avoid the pick and choosing it come with the daily market moves.

As a waver the best set up using the Elliott wave principle  is waiting for five waves to take place and then taking a position in favor of the five waves trend against the beginning of those five waves .If you trade only using that rules you and keep to this strategy and only trade when it present you will become a better trader.

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Eric Morera expert at Elliott Wave Forecast using Elliott Wave Principle

Whats next for the Euro using the Elliott wave -forecast

As everybody knows the European debts crisis is taking and tool in the single currencies.Looking from the other side of the Atlantic looks like nobody works in Europe and every country with the exception of Germany has a big government which do not have enough money to keep all citizens services working.Like I said this is from the other side of the Atlantic, we in Elliottwave-forecast do not understand and trade base in fundamental news.Lets see the Elliott wave structure reading of the Euro and the Eur/usd in particular being this pair the motor when it come to pricing the Euro.The Euro as everyone know was created January 1st of 1999 and become a successor to the European Currency Unit (ECU),consequently we going to look at the charts with that in mind because they look different in many ways and we are in a important moment defining the Elliott wave principle pattern 

First scenario Bullish Eur/usd from current levels.

From 1999 the Eur/usd did a clear Five waves structure from 81.10 to 16038 those five waves can be the beginning of a uptrend move which will make the Euro very strong and then from 16038 we have two legs down and a recovery in the middle in the form of a Flat, that can be a completed corrective structure ABC from 16038 to 11874 , is worth mentioning that 11874 is very close to the 50% Fibonacci level of that 5 waves swing.Then, from 11874 we have so far a a three wave structure and it is possible to a swing higher in wave 5 as far as 13334 is not printed before 14283 be printed .In conclusion, the 11874 can be lower we going to see the Eur/usd in our lifetime if this scenario play out and thats why the 13334 level is key.

Second scenario :Bearish Eur/usd from current levels.

To understand this scenario we need to take the chart to 1978 putting together the ECU chart with the Eur/usd chart from 1999. this chart is showing a WXYZ structure when wave x of Z is happening right now. lets get to short term 16038 was A of Z and then now in a way of wxy is dropping the move from 16038 to 12328 is W the flat recovery to 15144 is X the leg from 15144 to 11874 is a of y and now this recovery b of y that will take the Eur/usd to around 11400 to completed Y and then a recovery.This scenario is supported by the indexes and major pairs. 

In conclusion, to early to call which way the major move in the Euro will be but 13334 will give us some good indication of how it will perform waiting for 13334 is a good way to save money.

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Eric Morera expert at Elliott Wave Forecast using Elliott Wave Principle

It is gold topped or will go higher.

Gold as everyone knows has been view as power , as money , as a symbol of King. Gold has reach the higher print of

1424.50 printed against the US dollar per ounce. Many believe this is hard to top and its too much. I will explain my point of view and how we believe in Elliottwave -forecast this Gold rally will play out.Gold has been rising since charts can be recorded and have make many corrections within that rise. We really believe in Elliottwave -forecast that Humans are in impulse trend when we came from nothing to the stone age to today world full of technological advances. Who would though 100 years ago all the advances we have today , Last night , I watch a movie about Amelia Earhart those plans compare to what we have today are nothing , the cars today compare to the one in the earlies days nothing. we live in a uptrend world when Humans take risk and develop new instruments which will make our world more and more advance. There are wars  and tragic events which develop  corrections within the Human up trend but at the end are erase and develop into something new and better .

This cycle has been there since the divine creation and will be going into eternity. I look around trying to find something through the ages , something which value has increases  with Humans and guess what I found .GOLD , it has been there thought years with the develop , many wars were fought because Gold , the value always been there and always will.We believe in Elliottwave-forecast the Gold will get into a correction from this level , our charts are backed to 1978 and this will be the biggest of all , it can drop to around 800 dollars per ounce but at the end King Gold will keep rising and rising and someday will worth more than 2000 dollars per ounce .that will happen with patience within the next six months we will have a good retirement plan if we start buying Gold in twenty years from now , who knows how much it will worth , the History of human grow show the trend , now it is so to you to get aboard.

--------------------------------------------------------------------

Eric Morera expert at Elliott Wave Forecast using Elliott Wave Principle