Today, I will add a very high quality tools for working on the principle of Elliott Wave analysis. It is an indicator very high quality, excellent visualization, considered testimony Fibonacci levels , there are targets, which are also calculated according to these levels of resistance. Yes, there are a few moments in the work, but rather where they are not?

Thus, the indicator MT4_GoodTrade analyzes the graph and make the layout of current trends. And while at the moment can often be a trend, but several recent trends. For example, it may be short upward trend within a more global downward trend. It may not happen all at different times, as many are accustomed to understand, namely on one FF and at the same time. And in identifying and marking with the visualization of the current’s current trends and helps teryderu MT4_GoodTrade indicator .

Figure 1

On the chart are now in the process of becoming is the third wave of a global downward trend, as evidenced by the red marker with the number 2, and the marker is marked 100% resistance level as red, but inside this wave at the moment is the short-term uptrend, which already formed the most recent fifth wave. Also note that in view of the first upward wave was marked by the first target level Target-1 , and he was taken. And from him the price strayed and went down. Yes, it is not always, but it is not just the target level, it is a zone of resistance that must be considered in the work.

Indicator Elliott Wave uses the size of the waves in combination with Fibonacci grid to determine target levels, and these levels the indicator marks on the chart markers, a total of three pieces, Target-1,2,3. It is clear that the first objective of the most conservative and the latter for the most aggressive trading. But the fact that the trader has a choice in the work, said on the positive side of an indicator.

Figure 2

Now there is the same downward, a global trend, in its formation of the rising, but now the wave size has changed, therefore, changed and potential targets. Now the immediate aim is not even seen on the chart, it has become much higher. This is not a problem, in fact, just personally do not like when the target levels jump for me, I always, and changing the current situation in perception. I’m used to, and to me it is better to work with a trend that I have identified. Yes, it may be wrong, but it is stable for me, and it helps me in my work. There is also other work, it is not suitable for me, but it’s not the tool, or the wave analysis, the case in my perception. This is important, I want to distinguish the features of each trader on the general theory, in this case the principle of working with the Elliott wave theory.

Now let’s continue to have the instrument and trading options. This tool can be used both in the day , I even try to give a few examples. At the moment there is an uptrend in downtrend, and now will form the third ascending wave. Why do I still try to buy at a global downtrend? The point is the structure of this third descending wave. Note, neither of which the power of now we can not say. Yes, there are peaks that are not updated, but the structure is very wrinkled, so I can consider buying with this version. In my opinion, the safest entrance is on the third wave of any trends, rather than at the beginning of the first wave. There is already a certain proof and on the structure and on the extremes. To determine the signal to the input I will use the usual trend line, and after the break I go to the market.

Figure 3

The breakdown of the trend line, I go into a purchase and want to take at least the entire third wave, or go out on the first target level if the market will provide such an opportunity. But it would have been if it were not for the fact of the downtrend, a global downward trend, so that the maximum level of the marker number two need to be taken into account as well. Of course, as in the wave theory of everything is very relative and quickly things can change, the current downward movement can be broken, but it remains to be seen, the main thing to be careful and to take into account all the current issues and trends. Also, do not try to take it to the goal marker for  the Target , lively market, and the best that can make a trader, is to go for a price, and not expect price movements to a certain purpose.

Figure 4

Figure 4, and all that, as I said, the market can very easily change whatever he wants. The downward trend was not confirmed and has been broken, the rising tide broke through trend line for the current wave, I closed the deal with a profit of 18P. In the sale, I am not, because it is contrary to the current upward trend, and in addition, there is no downward trend is already there. So the next entry will be the last in the formation of the fifth wave in the short-term uptrend.

Figure 5

So, a new signal, I get into the market. Goal number one, or the breakdown of the trend line for the current wave.

Figure 6

So, the price did not reach the target level, and I closed the deal with a profit of 11P. on the market. Formation of the last upward wave at No. 5 was completed. Yes, the market can go higher again, but no one knows, so you need to work as carefully as possible, taking into account that the wave analysis is very relative thing.

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