Wave trading: stock market strategies

I don’t think it’s going to renew lows. I guess current level is enough to consider it good correction and way for euro is still up. At least 1.2120 we will see soon again. An then - maybe we’ll continue correction, maybe we’ll go straight to renew high.

Found Forex Project Blog. No RSS available, unfortunately.

I’m trying to monitor FOREX topic in technorati and icerocket, but it’s quite hard. More than a half messages are spam from fake blogs. FOREX is a commercial keyword so too much people want your clicks at all costs. I’m afraid blogosphere will die under weight of spam blogs.

So, after correction EUR/USD moves up again. It’s now near the high of previous days. I think this high will be renewed. Probably euro now in the beginning of good trend up. But still we are not far from lows, so volatility may be significant.

I have now domain name www.wave-trading.com. Bought it yesterday. It looks nice, but I can’t say I am fan of Elliott wave theory. I’ve bought it mainly because it looks nice and because any other domain names that looked nice for me where already taken. So let it be Wave Trading.

Actually, I don’t use strict rules of Elliott wave theory, but I have my own understanding of its wave principle. I can see some wave patterns work well from time to time. But I don’t think you can easily predict price movement just using wave theory rules, you will need something else. Elliott good when describing current market situation, it’s good to understand where you probably are inside current market wave.

I think the further direction for EUR/USD is up. May be after some not very deep correction. May be even it will be the beginning of good trend up.

Nice, I found add-on for WordPress, it inserts technorati tags in post. Also I’ve tested how trackback works here. It works. Well, now everything seems fine and I will continue posting here.

FOREX lots are actually a futures contracts. Forward contracts, at least. And the advantage of any futures contract is that you can go short the same way you go long. No additional costs for shorts. Moreover, currency trends don’t have primary direction. No uptrend, for example, as it is on index futures and stocks. That’s important difference.

I’ve changed classical design a bit. I like what I’ve got now, minimalistic that’s what I love. Looks great.

Interesting wordpress option - sidebar in your browser. You can post without login to blog admin area.