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Great site Kenny.

Technical Analysis written in a straightforward way so that everyone understands.

There's only a small few who get it consistantly correct and you are certainly in that group. Chris

Thanks for putting this all together and sharing! BHW

Awesome Stuff! Kenny has shown time and time again the ability to show us direction in these markets. Khalsa

Kenny, I appreciate your insight and analysis. You make sense of what I can rarely see.

Thanks for sharing.

Took a gold short at 1240 just closed at 1203 :-)))))))))))))))))) ........ top call!!  Gekko

Elliott Wave Trading Resources

Interesting Articles from Elliott Wave International

Elliott Wave International

Elliott Wave International (EWI) is the largest market forecasting firm in the world. EWI's 20+ technical analysts provide forecasts around-the-clock of every major market in the world, via the internet and proprietary web systems such as Reuters and Bloomberg.

Elliott Wave International's educational services include conferences, workshops, webinars, video tapes, special reports, books and one of the internet's richest free content programs, Club EWI.---All you need for access is to  create a free Club EWI profile.

EWI's Financial Forecast Service is their most popular subscription package and includes short term market forecasts updated three times per week, their big picture analysis in the Financial Forecast and Elliott Wave Theorist newsletters.

elliott wave technical analysis

Interesting Elliott Wave Articles and Trading Resources 

from Elliott Wave International

Elliott Wave: How You Can Make Yourself a Better Trader

The idea of being a successful trader is exciting. The reality of becoming one is another thing. You need to understand more than the markets -- you need to understand yourself.

EWI's Senior Analyst Jeffrey Kennedy knows what it takes. He has analyzed and traded the markets for over 15 years. Jeffrey has learned what it takes to be successful, and he has the discipline to apply that knowledge....

Read more -  Elliott Wave: How You Can Make Yourself a Better Trader

Elliott Wave Theorist: A Rising Market Won't Stop the Economic Rot

Are you prepared for when the "disconnect" between the market and economy reconnects?
Suppose you see a lovely house -- one with great curb appeal. It has new paint and manicured shrubbery out front.

But also suppose that you look more closely. You press your thumb on the window sill and the wood frame crumbles in. Come to find out, the wood is rotten in too many places to count. The deck joists and supports are fractured. Even the terrain underneath the deck looks unstable. And the closer you look the worse the problems are......

Read more -  Elliott Wave Theorist: A Rising Market Won't Stop the Economic Rot

Understand Fibonacci - Learn How to Apply Fibonacci Ratios

Fibonacci ratios can be an invaluable tool for calculating price retracements and projections in your analysis and trading. This excerpt from The Best Technical Indicators for Successful Trading explains the origins of the Fibonacci sequence and how you can apply it to the markets.......

Read more -  Understanding Fibonacci Ratios

Did the Past 7 Weeks of Rally Lull You to Sleep?

Bear markets are cunning beasts. Don't get me wrong -- we are not in the bear market territory yet. At least, not officially.An "official" bear market begins when the stocks indexes decline 20%. The DJIA's decline from the May 2, 2011 high to the September 21 low is about 17%. Close, but no cigar.

Read more -  Did the Past 7 Weeks of Rally Lull You to Sleep?

It's All the Same Market in a Deflationary Environment

On September 22, the Dow and S&P opened down over 2.5%. Oil was down, copper was down, and even GOLD was down sharply. Watch this video excerpt from Robert Prechter's special video issue of the August Elliott Wave Theorist where he explains what is causing diverse markets such as these to move together in today's environment.

Read more -  It's All the Same Market in a Deflationary Environment

What Personality Type Makes the Best Trader? 

EWI's Jeffrey Kennedy shows you how your psychological strengths and weaknesses determine your ability to "live long and prosper" in fast-moving markets 

Do your decisions rely on data, or do you go with your gut?  

Think about your most recent auto purchase. Was it based on meticulous consumer research or did you go with a model that "felt right"?  How about the last time you had to assemble something? Did you read the manual first or just figure it out as you went?  

What about your most recent successful stock market trade?.............

Read more -  What Personality Type Makes the Best Trader?

Evaporation of Wealth on a Vast Scale 

How $1-million can disappear 

The bursting of the "debt bubble" which started in 2008 is far from over.

It's the financial story of our age and it's happening before our eyes. The full scope is hard to keep up with because it's unfolding at various levels.

The top level is the sovereign debt crisis:...............

Read more -  Evaporation of Wealth on a Vast Scale

How Analyzing Forex with ElliottWave Can Help You Catch Both Rallies and Declines 

FreeWeek of Elliott Wave International's Currency Specialty Service is here thru Nov. 18 

On November 1, the EUR/USD -- the euro-dollar exchange rate and the most actively-traded forex pair -- was trading the $1.38 range, near the level it is today.

But if you look at what the EUR/USD did between November 1 and 9, you'll see a huge 400-point (or pip, in forex lingo) rally into the November 4 top -- and an equally huge decline back to the levels we see today.

That's an 800-pip "round trip" in just six trading days.......

Read more -  
How Analyzing Forex with ElliottWave Can Help You Catch Both Rallies and Declines

The Next Major Disaster Developing for Bond Holders 

A must-read FREE report for investors in fixed-income markets like Treasury bonds, municipal bonds or high-yield bonds 

Elliott wave analysis can warn you of trend changes when the rest of the investment public least expects a market reversal. With that in mind, we have created a new report for our free Club EWI members: "The Next Major Disaster Developing for Bond Holders."

In this free report, you get some of the latest commentary on fixed-income markets adapted from various Elliott Wave International's publications, including 2010 issues of Robert Prechter's monthly Elliott Wave Theorist ..........

Read More - The Next Major Disaster Developing for Bond Holders

Deflation: 'Way Past the Point of No Return' 

In a world where most adults can remember worrying only about inflation, not deflation, it's hard to get a grasp of what it will mean as deflation continues to take hold in the U.S. economy. Certainly, the declining value of homes is one serious gauge of what deflation feels like. A look at deflation in Japan also helps fill in the picture. Here's what our analysts say about the deflationary outlook in this excerpt from The Elliott Wave Financial Forecast, along with a link to our updated Understanding Deflation eBook.

* * * * *
Excerpted from The Elliott Wave Financial Forecast by Steve Hochberg and Pete Kendall, published September 3, 2010

Read More - Deflation: 'Way Past the Point of No Return'

A Trader Walks Into A Bar... Pattern: HOP-portunity On Tap 

A free Club EWI resource reveals how bar patterns signal high-probability trade setups

There's a little known joke among the trading community that goes like this: "A trader walks into a bar... pattern: 'Ouch!' "

Fact is, if you don't know what you're doing, price bar analysis can be a bit "painful." Finding a discernable pattern in their grouping can feel like finding a hair in a hay stack.

But if you have the right teacher -- say someone who has used bar pattern analysis for twenty-plus years to signal dramatic moves in some the world's most watched markets -- well, then the discipline is invaluable......

Read more - A Trader Walks Into A Bar... Pattern: HOP-portunity On Tap

7 Ways to Become an Unsuccessful Trader 

Q&A with an experienced Elliottwave trader reveals seven common trading mistakes.

To be a successful trader demands knowledge.

If you'd prefer to become an unsuccessful trader, you can start by making the following common trading mistakes, detailed by a professional who spent 25 years in portfolio management, trading and forecasting in the financial capital of the world, New York City.

In 2002, Wayne Gorman, long-time Elliott wave trader and current head of trader education at Elliott Wave International, left his 35th floor Manhattan apartment and moved to the quiet of North Georgia. He's been sharing his knowledge and skills with aspiring traders ever since -- in both online seminars and before live audiences around the world.

Wayne graciously agreed to a Q&A about trading mistakes. In his interview, Wayne reveals seven common mistakes traders make.


EWI: Could you name two mistakes frequently made by stock traders?

Wayne Gorman: (mistake 1) The first big mistake is the flawed logic of extrapolation. Many traders and investors assume that a trend will remain in force until an "event" comes along to change it. But market trends are not like billiard balls on a pool table. This false assumption will put you on the wrong side of the market more times than not, especially at major turning points.

(mistake 2) The second big mistake is to suppose that news events drive market trends. In fact, the opposite is true: economic, political and social events lag market trends.

EWI: What are two common mistakes among options traders?

WG: (mistake 3) One common mistake is to buy puts or calls that are way "out of the money," with no other transactions to compliment them. Unless your timing is absolutely perfect -- and who has perfect timing? -- your chance of success is low. It’s like buying a lottery ticket.

(mistake 4) Another common mistake is to buy options with too little time left to expiration. With less than one month to expiration, the time decay begins to accelerate and the chances of success diminish.

EWI: Please name a frequent mistake among traders who aim to catch the beginning of a particular Elliott wave.

WG: (mistake 5) In the middle of a corrective pattern, it's common to run out of patience while waiting for confirmation of a trend change. You have to give corrective patterns time to unfold before you jump in. This requires discipline, and a solid understanding of the many ways corrective patterns can unfold.

EWI: What's the biggest misconception among traders about using Elliott waves?

WG: (mistake 6) Too many traders think Elliott wave is a trading system that tells you exactly where to enter and exit a particular market. That's the biggest misconception. The reality is that it's an analytical and forecasting tool, which helps you develop and use your own trading system, based on your own personal risk tolerance.

EWI: What technical indicators do you believe traders over-rely on, and why?

WG: (mistake 7) Traders tend to over-rely on momentum indicators such as RSI, Stochastics and MACD to precisely spot turning points. But to paraphrase Mark Twain, markets can stay overbought or oversold a lot longer than either you or I can remain solvent.

EWI: How would you characterize today's market action, and do you teach courses that address this environment?

WG: This is a difficult stock market in the near term. Prices haven't strayed far from where they began in January. The action has yet to break out significantly to the downside or upside. This situation may not last much longer. I can suggest these online courses to deal with the current situation, and to prepare for the next big move:

This article was syndicated by ElliottWave International and was originally published under the headline Do You Recognize These Six Common Trading Mistakes?. ElliottWave International is the world's largest market forecasting firm. Its staff of full-time analysts lead by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to institutional and private investors around the world.

20 Questions with Robert Prechter: Long Decline Ahead 

The following article is an excerpt from Elliott Wave International’s free report, 20 Questions With Deflationist Robert Prechter. It has been adapted from Prechter’s June 19 appearance on Jim Puplava’s Financial Sense Newshour.

Jim Puplava: I want to come back to government spending, but first I want to move onto the stock market. In your last two Elliott Wave Theorist issues, you laid out a scenario that would put the Dow and S&P, which in your opinion may have peaked on April 26, as the top from here. You feel that this top is the biggest top formation of all time, a multi-century top and we could head straight down in a six-year collapse that would end in 2016 that could see a substantial portion of the S&P and the Dow wiped out in a similar way that we saw between 1929 and 1933. Let's talk about that and the reasoning behind it.

Editor’s Note: The article you are reading is just one small excerpt from Elliott Wave International’s FREE report, 20 Questions With Deflationist Robert Prechter. The full 20-page report includes even more of Prechter’s insightful analysis on fiat currency, gold, the Fed, the Great Depression, financial bubbles, and government intervention. You’ll learn how to protect your money -- and even profit -- in today's environment. Read ALL of Prechter's candid answers for FREE now.Access the free 20-page report here.

RP: Yes, you're exactly right. I did a lot of work on technical forms, cycle forms and Elliott wave forms in April and May and put them in a double issue. Let’s talk about the cycles first.

The 7¼-year cycle has been quite regular since the first bottom in 1980. The next bottom was at the crash in October 1987. The next one was November 1994, which is when the economy went through four years with lots of layoffs; it was a recessionary period throughout until that cycle bottomed. The next one was between September 2001, which was the 9/11 attack, and the October 2002 bottom. And the latest one was at the low in March 2009. All those periods are 7¼ years apart, so we are in the uptrend portion of the 7¼-year cycle.

However, notice for example that in 1987, the market went up until August of that year and then bottomed in October, just a couple of months later. So the decline occurred very, very late in the cycle. This time it occurred a little bit earlier in the cycle, topping in '07 and bottoming in '09. In the current cycle, prices should peak the earliest of all of them. It's what we in the cycle prediction business call “left-hand translation.” The market’s already gone up for about a year, and I think that's just about enough. I think we're going to spend most of the cycle going down. But the important thing to note is that the next bottom is due in 2016. That means I think we're going to have a repeat of what happened between 1930—which was the top of the rally following the 1929 crash—and the July 1932 low. Instead of taking two years, it's going to take about six years.

It's going to be a very long decline. It's going to be interrupted by many, many rallies, just as the decline from 1930 to 1932 was. And every time it bottoms and rallies, people are going to say “OK, that's enough; it's over.” But it won't be over. It's just going to be a long, long process. I think you and I will probably be talking a few times during this period. One of the interesting aspects of this process is that optimism should actually remain dominant through the first three years of the cycle. That will carry us into 2012. Even though prices will be edging lower, most people are going to think it's a buy, and you shouldn't get out of your stocks, and recovery is just around the corner, probably for the next three years. And then, for the final half of the cycle, the final three years, that's when you'll get the capitulation phase when everyone finally gives up.

Editor’s Note: The article you are reading is just one small excerpt from Elliott Wave International’s FREE report, 20 Questions With Deflationist Robert Prechter. The full 20-page report includes even more of Prechter’s insightful analysis on fiat currency, gold, the Fed, the Great Depression, financial bubbles, and government intervention. You’ll learn how to protect your money -- and even profit -- in today's environment. Read ALL of Prechter's candid answers for FREE now.Access the free 20-page report here.

This article, 20 Questions with Robert Prechter: Long Decline Ahead,was syndicated by ElliottWave International. EWI is the world's largest market forecasting firm. Its staff of full-time analysts lead by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to institutional and private investors around the world.

Learn Basics of Elliott Wave Analysis -- FREE 

Ralph Nelson Elliott discovered the Wave Principle in the 1930s. Over the decades, his discovery was kept alive by a handful of individuals. A few of those, such as Bolton, Prechter and Frost, educated investors on how to use pattern analysis in financial markets.

To help out Elliott Wave International's readers in learning the basics of the method, we put together a free 10-lesson online tutorial. Here's an excerpt. To get it in full, look for details below.

EWI's Basic Elliott Wave Tutorial
Lesson 1, excerpt

At that time [of his discovery], with the Dow in the 100s, R. N. Elliott predicted a great bull market for the next several decades that would exceed all expectations at a time when most investors felt it impossible that the Dow could even better its 1929 peak. As we shall see, phenomenal stock market forecasts, some of pinpoint accuracy years in advance, have accompanied the history of the application of the Elliott Wave approach.

Under the Wave Principle, every market decision is both produced by meaningful information and produces meaningful information. Each transaction, while at once an effect, enters the fabric of the market and, by communicating transactional data to investors, joins the chain of causes of others' behavior. This feedback loop is governed by man's social nature, and since he has such a nature, the process generates forms. As the forms are repetitive, they have predictive value.

The not propelled by the linear causality to which one becomes accustomed in the everyday experiences of life. Nor is the market the cyclically rhythmic machine that some declare it to be. Nevertheless, its movement reflects a structured formal progression. In markets, progress ultimately takes the form of five waves of a specific structure.

Elliott Wave

Three of these waves, which are labeled 1, 3 and 5, actually effect the directional movement. They are separated by two countertrend interruptions, which are labeled 2 and 4, as shown in Figure 1-1. The two interruptions are apparently a requisite for overall directional movement to occur.

At any time, the market may be identified as being somewhere in the basic five wave pattern at the largest degree of trend.

Read the rest of this 10-lesson Tutorial and see multiple charts now, free! All you need is to create a free Club EWI profile.

Read the rest of this 10-lesson Basic Elliott Wave Tutorial online now, free! Here's what you'll learn:
  • What the basic Elliott wave progression looks like
  • Difference between impulsive and corrective waves
  • How to estimate the length of waves
  • How Fibonacci numbers fit into wave analysis
  • Practical application tips for the method
  • More

Keep reading this free tutorial today.

This article, Learn Basics of Elliott Wave Analysis, was syndicated by Elliott Wave International. EWI is the world's largest market forecasting firm. Its staff of full-time analysts lead by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to institutional and private investors around the world.

elliott wave trading

Elliott Wave Basics Explained - Learn More

elliott wave principle

You have only just begun to learn the power and complexity of Elliott Wave Basics Analysis. So, don't let your Elliott wave education end here

We discuss Elliott Wave Theory in much more detail, here at, but we also recommend that you join Elliott Wave International's free Club EWI to access the Basic Tutorial: 10 lessons on The Elliott Wave Principle and learn how to use this valuable tool in your own trading and investing.  

It is completely free and you will find an extensive library of educational materials in there to help you get the most out of this unique technical analysis tool.

Return from -  The Elliott Wave Trading Resources  to

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