Forex Wave Theory
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HOW THIS BOOK IS ORGANIZED
There are ten major divisions within this book.
Part 1: Currency Markets
Much of the material in this section is a quick overview of both spot
currency markets and currency futures. This includes definitions for the
technical jargon used throughout the remainder of this book.
Part 2: Technical Analysis
The four most significant categories within technical analysis (i.e., pattern
recognition, econometric models, crossover trading systems, and wave
theory) are reviewed in the section.
Part 3: Reversal Charts
The essential reversal charts used by wave theoreticians are explained
in detail, with the advantages and disadvantages of each method being
highlighted. This section lays down the foundation for the remainder of
the book.
Part 4: Brief History of Wave Theory
Wave theory has a long and intriguing history. All the major systems are
scrutinized with close attention to the Elliott wave principle.
Parts 5–9: Cycles
Different length cycles (two through six waves) are analyzed in detail, with
special emphasis on their predictive reliability. Ratio analysis and cycle
frequencies play an important role in determining the level of confidence
for each forecast.
Part 10: Advanced Topics
The salient cycle property called fractality is examined in detail. This is
the characteristic where a single wave may be composed of even smaller
waves. In this fashion, forecasts may be calculated at two different fractal
levels, thus providing a higher degree of confidence prior to entering the
market.