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Basic EW Concept
Ok now time to cover some basic Ew concept we need with this system
( a note to ew gurus who might be watching this thread -- i am taking into account only those people who are really new to forex and have no idea about trading and in my trading career i have changed many laws once made for ew so if you find my theory different than what it is then let it be we are concerned in making money not after acedemic theories .
(1) Market unfolds in 5 wave structure which is known as impulsive
if lets say the trend is going up
then..
we will start at Low which is [0] and new high is made which will be [1]
after these two things happen we expect a retracement.. for people who are new to this ( retracement is a movement against the last [0] to [1] move)
we expect this retracement to finish before [0] is reached and we label it [2]
( this is also known as Classic 123 )
lets stop here for a moment .. i need to find a book or some notes on ew to also upload if someone also has it pls upload
*** Ew is the most important part and unfortunately the most hard part of this system but with practise we will all make it there i am sure ****
be back after a while..
Last edited by choosenOne; 02-25-2006 at 04:06 PM.
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