The ABC pattern is a common correction pattern in Elliott wave theory. It represents a three-wave corrective movement that occurs after an impulsive move and usually moves against the prevailing trend. This pattern can be seen in both bull and bear...
Understanding Elliott Wave Retracement Elliott Wave Theory, pioneered by Ralph Nelson Elliott, provides a framework for analyzing market movements based on the psychology and behavior of investors. Central to this theory are the concepts of impulse...
Explain Bollinger bands Indicator Bollinger Bands is one of my go-to tools for measuring market volatility and identifying potential overbought or oversold conditions. Created by John Bollinger in the 1980s, it’s made up of three key components: ...
The EUR/USD pair has been steadily declining this week and last week. It's common for sellers to take a break on Friday. However, they didn't fully overtake the previous day's price on Thursday, nor did they exceed the intraday high of 1.0873. Now,...
USD/JPY: A Roadmap to Successful Trading We can discuss the analysis of the USD/JPY currency pair's price behaviour. On Thursday, the USD/JPY pair experienced a steady decline on the daily chart, closing near the support level of 148.380. The price...