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*** Online FOREX Trading - Forex is an interbank market that was created in 1971 when international trade transitioned from fixed to floating exchange rates. Since then the rates of currencies relative to each other are determined by the most obvious means which is the exchange at a mutually agreed rate.This market surpasses the others in its volume. For example, the daily turnover of world securities market is estimated at $300 billion, while Forex approaches 1 to 3 TRILLION US dollars in the same amount of time.Foreign Exchange (FOREX) is the arena where a nation's currency is exchanged for that of another. The foreign exchange market is the largest financial market in the world.
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The Strategy
The key Fibonacci ratio of 61.8% - also referred to as "the golden ratio" or "the golden mean" - is found by dividing one number in the series by the number that follows it. For example: 8/13 = 0.6153, and 55/89 = 0.6179.
The 38.2% ratio is found by dividing one number in the series by the number that is found two places to the right. For example: 55/144 = 0.3819.
The 23.6% ratio is found by dividing one number in the series by the number that is three places to the right. For example: 8/34 = 0.2352 .
In mathematics, the Fibonacci
numbers are a sequence of numbers named after Leonardo of Pisa, known as Fibonacci. Fibonacci's 1202 book Liber Abaci introduced the sequence to Western European mathematics, although the sequence had been previously described in Indian mathematics.[2][3]
The first number of the sequence is 0, the second number is 1, and each subsequent number is equal to the sum of the previous two numbers of the sequence itself. In mathematical terms, it is defined by the following recurrence relation:
That is, after two starting values, each number is the sum of the two preceding numbers. The first Fibonacci numbers (sequence A000045 in OEIS), also denoted as Fn, for n = 0, 1, 2, … ,20 are:[4][5]
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F0 F1 F2 F3 F4 F5 F6 F7 F8 F9 F10 F11 F12 F13 F14 F15 F16 F17 F18 F19 F20 0 1 1 2 3 5 8 13 21 34 55 89 144 233 377 610 987 1597 2584 4181 6765
Every 3rd number of the sequence is even and more generally, every kth number of the sequence is a multiple of Fk
.
The sequence extended to negative index n satisfies Fn = Fn−1 + Fn−2 for all integers n, and F−n = (−1)n+1Fn:
.., −8, 5, −3, 2, −1, 1, followed by the sequence above.
Elliot Wave Principle:
The wave principle posits that co llective investor psychology (or crowd psychology) moves from optimism to pessimism and back again. These swings create patterns, as evidenced in the price movements of a market at every degre e of trend. and other collective activities. It is named after
Elliott's model says that market prices alternate between five waves and three waves at all degrees of trend, as the illustration shows. As these waves develop, the larger price patterns unfold i
n a self-similar fractal geometry. Within the dominant trend, waves 1, 3, and 5 are "motive" waves, and each motive wave itself subdivides in five waves. Waves 2 and 4 are "corrective" waves, and subdivide in three waves. In a bear market the dominant trend is downward, so the pattern is reversed
—five waves down and three up. Motive waves always move with the trend, while corrective waves move opposite it.
Graphical Representation ( Click to Enlarge)
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