Catching the Wave: When the Bough Breaks
Over and over, Elliott Wave Theory (EWT) continues to prove its value for those open-minded enough to embrace it. I've personally tried using it across stock indices, individual stocks, ETFs, metals, grains, interest rates and currency futures to demonstrate its unique ability to use the herd mentality, rather than be subject to it.
In my comment on the Swiss franc last month, EWT allowed the warning near top tick, around $1.40, that late-trend buyers were going to become very unhappy. About a week later the pattern had developed further, allowing me to illustrate the coming movement on a chart and offering $1.25 +/-0.02 as our initial target zone, with $1.17 as our larger forecast. It now appears that the zone near $1.1450 +/0.015 will finish a five-wave decline from the $1.30 swing high last week, and form several symmetry measurements that can support a bounce of several weeks, perhaps toward $1.25 +/-0.02 again....448 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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