Elliott Wave predictions: EUR/USD, USD/CAD, and SPX500 [Video]
|In our live trading analysis this week, we delve into the potential of EUR/USD, USD/CAD, and SPX500 using Elliott Wave theory. By diving into the world of forex and indices, we equip you with the necessary tools to trade effectively and profitably. First, we apply the Elliott Wave theory to these three financial instruments. Elliott Wave theory, developed by Ralph Nelson Elliott in the 1930s, posits that price movements in financial markets follow predictable patterns, allowing us to make more accurate predictions about their future behavior. Supplementing our analysis, we use Volume Profile, a tool that displays trading volume at different price levels, highlighting areas of greatest and least interest for traders. Next, we analyze the supply and demand in the market for these instruments. By understanding where the market's control points are, we can better anticipate entry and exit zones for our trades. Lastly, we incorporate Price Action techniques into our analysis. These techniques, which rely on the interpretation of price movements, enable us to make more informed trading decisions without relying on external technical indicators. As a result of our live analysis, we provide you with a trading plan that will enable you to seize the opportunities that will present themselves this week.
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