Based on the principles of visionary analyst Ralph Nelson Elliott, the time-tested techniques you’ll find in Elliot Wave Techniques Simplified have helped successful traders navigate the waves of the financial market since the 1930s. Now you can apply these classic but complicated methods using a modern, simplified approach that will help you identify cycles, anticipate trends, and cash in on your trades.
In talking with traders around the world, one of the biggest complaints I hear when they are attempting to use Elliott Wave analysis is that many feel it is subjective, making it unreliable. Others have voiced concerns that it is overly complex, making it difficult to learn and too cumbersome to use. I’m here to tell you that when you use Elliott Wave analysis correctly, it is neither overly complex nor cumbersome. And when you employ the techniques covered in the following chapters, Elliott Wave analysis becomes reliable because you know how to identify the wave counts with the highest probabilities.
I’ve designed this book to simplify the process and make it easy for the novice and experienced trader alike to learn how to use the Elliott Wave count without having to resort to head-spinning calculations. And doing so will help you remove the subjectivity you may have experienced in the past. You will learn how to quickly and easily identify Wave 3 of the Elliott Wave pattern. This ability in itself will improve your trading skills immensely, since it is Wave 3 that the savvy professional traders use to generate the bulk of their profits.
Here you’ll also see how to place a numerical probability percentage on Elliott Wave counts using the McDowell Probability Matrix, thereby separating stronger wave counts from weaker wave counts. Plus, you’ll learn how to apply what is known as the classical approach to Elliott wave analysis in conjunction with a more modern approach that yields higher probability wave counts and goes a long way in removing the subjectivity in your analysis.
From this point on you will have a systematic and straightforward mathematical approach to learning and then implementing the Elliott Wave count. Now you will have a “road-map of the markets” to help anticipate and then prepare for future price action rather than having to react to significant events that have already happened—so you will no longer be reacting to these events after the fact. The methods you will learn in this book do not require any specialized software other than a good quality charting platform and market data feed, which you are probably already using.
- Who Is Ralph Nelson Elliott?
- Manias, Panics, Bubbles, and Crashes
- Classic Elliott Wave
- Classic Fibonacci Sequence
- Modern Elliott Wave
- Combining Classic and Modern Techniques for a Better Result
- Using the McDowell Probability Matrix to Trust and Verify Signals
- Real-Life Case Studies
- A Student’s Perspective by Dean Jenkins
Elliot Wave Techniques Simplified: How to Use the Probability Matrix to Profit on More Trades By Bennett A. McDowell pdf