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Visual Guide to Elliott Wave Trading



Visual Guide to Elliott Wave Trading

Wayne Gorman, Jeffrey Kennedy, Robert R. Prechter Jr. (Foreword by)

ISBN: 978-1-118-47951-3 June 2013 288 Pages

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The Visual Guide to Elliott Wave Trading is an in-depth, easy-to-use guide to trading the financial markets with the Elliott Wave Principle.

In many ways this book picks up where Frost & Prechter's classic Elliott Wave Principle: Key to Market Behavior left off, which makes it "required reading" if you want to build a solid foundation in Elliott wave analysis. Co-authored by two of Elliott Wave International's most trusted analysts -- Wayne Gorman and Jeffrey Kennedy -- their trading insights offer a perfect blend of traditional textbook and real-world application.

Join Kennedy and Gorman as they provide step-by-step instruction in how to trade with Elliott. They include scores of real market charts that depict the Elliott wave patterns, which will help you measure the strength of trends, forecast market turning points, plus identify trading opportunities. What's more, this illustrated guide also explains how to use supporting technical indicators that can build confidence in your Elliott wave analysis.

Gorman and Kennedy know that "simple" does not mean "easy." Their combined expertise will help you build confidence in your analysis, create an effective trading plan, and better manage your trades. Whether your trading style is conservative or aggressive, their charts and techniques can help identify high-confidence opportunities.

Each chapter includes key points & smart investor tips, such as how to "Prepare yourself to take advantage of opportunities even when your preferred count does not materialize," and "Let the market commit to you before you commit to the market."

Elliott wave analysis recognizes that in financial markets, mass psychology swings from pessimism to optimism and back in a natural sequence. Use this book to recognize those wave patterns, and anticipate market moves that most traders never see coming.

The Visual Guide to Elliott Wave Trading is the new criterion for any serious technical trader. 

How to Use This Book vii

Foreword ix

Acknowledgments xi

Introduction xiii

Disclaimer xv

Part I: Trade Setups 1

Chapter 1: The Anatomy of Elliott Wave Trading 3
Jeffrey Kennedy

Part II: Trading Examples 19

Chapter 2: How Zigzags and Flats Set Up a Trade for the Next Impulse Wave 21
Jeffrey Kennedy on CAT, TECH, and the Australian dollar

Wayne Gorman on silver and robusta coffee

Chapter 3: How a Triangle Positions You for the Next Move 77
Jeffrey Kennedy on GCA

Wayne Gorman on DELL

Chapter 4: Riding Wave C in a Zigzag 99
Wayne Gorman on S&P futures and T-bond futures

Chapter 5: Using Ending Diagonals to Trade Swift and Sharp Reversals 125
Jeffrey Kennedy on DJIA, BSFT, SLW, and TCK Wayne Gorman on the euro

Part III: Going Beyond Elliott Wave Patterns 155

Chapter 6: Applying Technical Indicators 157
Jeffrey Kennedy on CREE, WMT, and WYNN

Chapter 7: A Basic Options Trade 185
Wayne Gorman on the euro

Chapter 8: More Advanced Options Trades 195
Wayne Gorman on heating oil and soybeans

Chapter 9: Parting Thoughts 223

Appendix A: Introduction to the Wave Principle, by Wayne Gorman 229

Appendix B: Bloomberg Functionality Cheat Sheet 247

Glossary of Elliott Wave Terms 249

Educational Resources 253

About the Authors 255

Index 257


Chapter 1 Video - The Importance of Patience and Persistence in Your Trading
Chapter 2 Video - How to Identify High-Confidence Trade Setups
Chapter 3 Video - How to Estimate the Target Price for the Thrust Out of a Triangle
Chapter 6 Video - How to Identify a Change in Trend Using Elliott and Corroborating Technical Evidence