Elliott Wave Financial Forecast

Get a free copy of the Elliott Wave Financial forecast by visiting my website

The "Prechter Point"

What is it? You should know because we are coming closer to it. Visit Elliott Wave International by cliking the banner and learn more about the scariest day of trading in recorded history. Its coming and subscribing to the Elliott Wave Theorist will prepare you.

A Poem for the new year.

I would like to send you all into the new year with this poem. A poem with a fractal at its essence, so appropriate for what we do here.

So the soul of immensity dwellss in minutia
And in narrowest limits no limits inhere
What joy to discern the minute in infinity
The vast to perceive in the small what divinity

Johann Bernoulli 17th century matmatician

Did the news "work" ?

Looking at the movement I would have to say no. The news came out at 02:30 PST. The GBP had been trending short for 2.5 hours before the news came out. The forecasted news was worse than expected which should push the currency shorter,  yet it went into a sidesways/long corrective movement. The reason? Simple wave 3 was over and it was time to make wave 4. Once wave 4 was over it could continue on with its existing short trend to make wave 5. Download the free ebook and see what other myths are wrecking your trading.

Does the news matter?

You will notice that the banner at the top advertises about 10 market myths exposed. Tuesday in England news will be coming out. It will be interesting to see if the "fundamentals" move the market in the "correct" direction or if the wave shows us what will transpire. We will talk about it tomorrow.