Watch this quick educational video from an Elliott wave forex expert, Jim Martens
By Elliott Wave International
Last fall, the editor of Elliott Wave International's Currency Pro Service, Jim Martens, observed a beautiful pattern in the chart of the Japanese yen. This pattern, called a triangle in Elliott wave terms, offers a very clear outlook for the market.
What is a triangle? It's a corrective pattern, meaning that it moves in the direction opposite the primary trend. And, it's very easy to spot on a chart. Here's an idealized diagram of a triangle.
When a triangle ends, the old trend should resume. This allowed Jim to make a very clear forecast for the dollar/yen. Watch this 7-minute video to see the triangle he observed, and the outcome. Continue reading "Want a Sure-Fire Forex Trade Setup? Look for a Triangle"
