Mastering Elliott Wave Principle Elementary Concepts, Wave Patterns, and Practice Exercises

by Brown, Constance

• ISBN13: 9780470923535
• ISBN10: 0470923539
• Edition: 1st
• Format: Hardcover
• Copyright: 2012-05-01
• Publisher: Bloomberg Press

Summary

An innovative approach to applying Elliott Wave Principle to integrated global markets By convention, the Elliott Wave Principle (EWP) is applied by individual market price movement. Mastering it will effectively show you how the global markets are integrated. The approach found in this book differs from the traditional view of EWP because it allows traders to see a chain of cause and effect between markets in order to better identify waves and thereby make smarter trades of higher probability. While EWP can be a challenging topic, the structure of this book eases you into the technique. With Mastering Elliott Wave Principle veteran author Connie Brown takes you step-by-step through Elliott Wave analysis. To begin, preliminary coaching unravels common misunderstandings that sabotage the beginner. You will discover how price swings and waves are not the same. Elements of balance and proportion are mathematical concepts taught through geometry and not subjective. These basic skills evolve with each part of the book. Beginners will understand what to expect from their level of skill and how to evolve towards advanced skills of forecasting global market direction. There are three distinct levels of skill that all masters of EWP have learned. Now there is a book to challenge and guide your understanding at each skill level so you can build upon a correct foundation and develop a working knowledge of how to define market positions around the world in short or long term time horizons. Bring your biases, bring your past concerns and discover how each part is designed with an exam to test your comprehension and knowledge up to that point. Details how incorporating cash flow analysis into your interpretations of the Elliott Wave Principle can take your trading to the next level Traders, from beginners to advanced, can use this book to become proficient in the Elliott Wave Principle Contains practice charts to compare your understanding and skill level with follow-up discussions of how you may have differed based on the results from twenty years of coaching If you want to become a better trader or simply understand global market movements, the information found here can help you achieve this goal. Mastering Elliott Wave Principle offers you an innovative approach to trading todays dynamic and volatile markets.

Author Biography

Constance Brown, CMT, is the founder of Aerodynamic Investments Inc. (www.aeroinvest.com). Connie trades for an institutional bank and offers research and analysis to financial institutions worldwide. She also trains other advanced professionals and hedge fund managers. The Market Technicians Association in New York has members in seventy countries. The organization selected her book Technical Analysis for the Trading Professional, Second Edition as required study for the final certification examination for the CMT (Chartered Market Technician). She has written nine books and was recently the editor of the Journal of Technical Analysis. Brown has been a professional trader with extensive global experience trading futures markets since 1991.

Table of Contents

Acknowledgments	p. xi
Introduction	p. xiii
Why this Teaching Approach is Different	p. xiii
Elliott Waves and Market Swings Are Not the Same	p. xvi
Are Attributes of Balance and Proportion Subjective? No	p. xxi
Using the Elliott Wave Principle to Evaluate Mass Psychology	p. 1
Geometric Proportion in Market Data	p. 2
The Patterns That Describe Trending Market Movement	p. 17
Impulse Waves Create Market Trends	p. 18
How to Label a Specific Price Pivot	p. 23
Using Fewer Bars to Represent Complete Impulse Waves	p. 24
Working with Impulse Waves in Strong Trends	p. 26
Termination Diagonal Triangles: An Introduction	p. 35
The Basic Patterns That Describe Corrective Market Movement	p. 39
How to Examine Corrective Price Movement	p. 40
A Zigzag Corrective Pattern	p. 43
A Flat Corrective Pattern	p. 49
An Expanded Flat Corrective Pattern	p. 53
The Triangle Corrective Patterns	p. 58
Diagonal Triangles (Wedges)	p. 67
Termination Diagonal Triangle Pattern	p. 67
Leading Diagonal Triangle Pattern—Type 2	p. 73
A Summary with Study Flash Cards for Patterns, Rules, and Guidelines	p. 77
Study Flash Cards for the Basic Patterns	p. 78
A Summary of Rules and Guidelines	p. 83
A Table of Degree Labels and Names	p. 85
Beginner Level: Practice Examination	p. 86
Beginner Level: Final Examination	p. 95
Exercise Appendix	p. 105
About the Author	p. 137
Index	p. 139
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