Tips From a Pro: How To Trade Forex With Elliott Wave

A FREE Report and FREE Video Lesson from EWI’s Chief Currency Strategist
Not since the U.S. Dollar Index (a measure of the dollar's strength against a basket of six other currencies) was created in 1973 has the greenback been as weak as it was back in April and July of 2008. That's when the euro-dollar exchange rate hit the $1.60 mark.
At that time, it seemed that the days of the dollar as the world's reserve currency were numbered. But – to the surprise of many forex traders – since then, the USD has enjoyed a truly remarkable recovery. On October 21, the EURUSD hit a fresh low of near $1.30, clinching a staggering 30-cent gain by the dollar in a matter of just three months.
Once again, the dollar has proved its role as a "safe haven" currency, and once again it's the center of the global financial community's attention. It will likely stay in the spotlight for a while. And that could be good for the forex market.
Currency trading is already the largest and most liquid market on the planet, with the daily volume being 10 times larger than the combined daily turnover on all of the world's stock exchanges. You may have heard that Elliott wave analysis is something many forex traders use. It's true; wave analysis is not a crystal ball, but it helps you accomplish three crucial goals: identify the trend, stay with it, and know when the trend is likely over.
We at Elliott Wave International have many resources that can help you to learn Elliott – but nothing helps you learn faster than watching a good teacher. Check out these two FREE resources:
FREE Video Lesson: How To Trade Forex With Elliott WaveIn early November 2007, EWI's Senior Currency Strategist Jim Martens taught a live 3-hour course on trading with Elliott in Denver, CO. What you are about to see is a condensed, 20-plus-minute version of Jim's course, the highlights of his best insights. Here's what you'll learn:
At its core, Elliott wave analysis is simple. Watch Jim explain why.
What Elliott waves are best for trading forex?
How do I identify trade setups?
At what point in a wave pattern do I enter a trade?
Your FREE Report: Discovering How To Use the Elliott Wave Principle Dig in and learn with this informative beginners piece on the basics of the Elliott Wave Principle. It will introduce you to the basic Elliott wave pattern and how to identify key trends and turns in the markets, plus much more.