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Elliot Wave theory along with Fibonacci usage is a Fantastic way of trading. The Fibonacci tells us the retracement or extension of any pair and the wave theory tell us where the wave is completer where the retracement wave will stay fibonacci level.
well mere khyal se fibbonici bahut achi trick hai market mai jisae hame low and high ka pata chal jata hai aur hisab se ham apna order open kar sakte hai maine abhi tak elliote wave ko use nahi kiya hai kyunki muje fibbinicy se acha fayda mil raha hai yaha pe aur ye bahut easy to understand hai
In its most basic form the Elliott Wave Theory states that all market action follow a repetitive rhythm of a five waves in the directions of the main trend followed by three corrective waves (a "5-3" move).
The advance waves are denoted 1-2-3-4-5 and the retreat waves are denoted a-b-c. In the advance waves' phase, waves 1, 3, and 5 are "impulse waves" and move in the direction of the trend, while waves 2 and 4 are called "corrective waves".
Fibonacci is a very good tool jiss sa hum log trend ka pata kr sakty hian or dekh sakty hain k trend jo ha agr long term ha ya short term ha tu wo kitna retrance kr sakta hai ku k market jo hoti ha wo retrance zaroor krti ha
Well both are powerfull indicator according to me all indicators are good its depend on the trader that how he use the indicator if he have good knowledge about indicator and know when to buy and when to sell than he can make profit for him otherwise all went into wain and market left the trader behind.
Sir I don't have enough knowledge on these two items related to fx trading. But I know very well that its important to get the actual knowledge of them. Certainly it will help us to go upper positions with our successful trading.
Bhai agar jo wo fibo ka use karna chahta hai, to jaruri hota hai ki pahle uske bare mein sikhe bhai, fibo maine dekha hai bhai kafi jayda effective tool hota hai aur iska use sabse jayda technical trader hi use karte hai bhai.Quote:
Originally Posted by fxearner
hanji fibo level ko market me use karna bahut he acha maana jaata hai aur eska sabse jada use techncial trader he karte hai,esme trader ko support aur resistance ke baarein me market me pata chal jaata hai jisse trader apne liye esme acha kar sakta hai..Quote:
Originally Posted by dareking
Fibonacci and elliot wave are rhe best indicators. You are use the both indicatord. I am like the Fibonacci indicator. I think that we are apply the market and find out the support and resistance level. Easy to tske the entry point. There afe many trazdr use the ellilot wave. This is a best indicator a d we can work the market.
Fibonacci and Elliot wave theories are legendary techniques or forms of analysis use by traders over decades for predicting price movements in the currency market. This techniques are powerful and still works great up till date if you master them well.