Alana Feakes

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At first glance learning the wave principle and learning Forex simultaneously would seem ridiculously complicated. However learning the Elliott Wave Theory is not that complicated at all. In fact the Wave Principle is as simple and straight forward as technical analysis can get. If you can count to five without any problems you can learn the Wave Principle. The problem is that there are too many self-proclaimed experts who really haven't taken the time to study thoroughly Elliott Wave and its rules and guidelines whom make wave analysis overly complicated and scare off any potential apprentice Elliotticians.

The beauty of the Elliott's Theory is its simplicity, and once properly applied, its ability to predict high probability trades by identifying highs, lows, and the lengths of trends. The advantage to Forex beginners is if, they take the time to learn the Wave Principle the greenhorns will be obliged to watch Forex market action in an elegantly detailed manner by observing and counting wave action correctly. The newbie will see Forex in a new and wondrous way and will be amazed by what they see unfolding right in front of their eyes. Confidently, without having to rely on news articles, other technical indicators, or just guessing as to what any particular currency pair will do, because the Wave Principle already has taken those elements into account. The novice wave analyst can be miles ahead of other would-be analysts. Watching your own accurately called FX action as it unfolds is incredibly satisfying, not to mention, it can be quite profitable. At such a time when the Forex beginner has a good grasp of the basics of the principles then he or she can progress to the more sophisticated task of ratio analysis which involves the understanding of Fibonacci retracement levels and sequences along with the relationship between Fibonacci sequences and Elliott Wave.

Elliott Wave DNA Nikola Delic

Well then, how does a person start to learn about the Elliot's Principles? There are several resources online that provide free material to learn the basics. However, the best resource by far is Elliott where you can find many free e-books to help you learn Elliott's principles. This author has no affiliation or connection of any kind to Elliott The people there are simply the best at Elliott, bar none. Also, a serious student of Elliott Wave would benefit from the Bible of Wave Principle, "Elliott Wave Principle" by Frost and Prechter.

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