{"id":9682,"date":"2022-10-12T19:45:12","date_gmt":"2022-10-12T19:45:12","guid":{"rendered":"https:\/\/mdr.foobrdigital.com\/?p=9682"},"modified":"2022-10-12T19:45:12","modified_gmt":"2022-10-12T19:45:12","slug":"how-to-trade-forex-using-elliott-waves","status":"publish","type":"post","link":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/2022\/10\/12\/how-to-trade-forex-using-elliott-waves\/","title":{"rendered":"How to Trade Forex Using Elliott Waves"},"content":{"rendered":"\n

This is probably what you all have been waiting for \u2013 drumroll please \u2013 using the Elliott Wave Theory<\/strong> in forex trading!<\/p>\n\n\n\n

As an Elliott Wave trader, you will be spotting \u201cwave counts.\u201d<\/p>\n\n\n\n

This means that you will be labeling the waves to see how they conform to the\u00a0Elliott Wave\u00a0pattern, to try and anticipate future price movement.<\/p>\n\n\n\n

In this section, we will look at some setups and apply our knowledge of Elliott Wave to determine entry, stop loss, and exit points. Surfs up!<\/p>\n\n\n\n

Hypothetical, will-most-probably-be-right scenario #1:<\/h2>\n\n\n\n

Let\u2019s say you wanted to begin your wave count. You see that price seems to have bottomed out and has begun a new move upwards.<\/p>\n\n\n\n

Using your knowledge of Elliott Wave, you label this move up as Wave 1 and the retracement as Wave 2.<\/p>\n\n\n\n

\"Elliott<\/a><\/figure>\n\n\n\n

In order to find a good entry point, you head back to the School of Pipsology to find out which of the three cardinal rules and guidelines you could apply. Here\u2019s what you found out:<\/p>\n\n\n\n