The ‘Elliot Wave Theory’, named after Ralph Elliot, is one of the oldest forex strategies. He analyzed the stock price data for around 70 years and found out that human psychology (emotions, fear and greed) drove the market and that it moved iteratively. This is to say that the market switches between optimistic and pessimistic modes. In this strategy, the motive phase unfurls in 5 steps.
Peter, himself, learned how to trade in the early days of his career from some of the top traders in reputable trading houses. Peter spent an 18-month period learning anything and everything he could about trading the Forex. Over time, he developed his instincts for a simple yet powerful Forex trading system based on his Pivot program which has been continuously refined over the years. His system consists of the same techniques used by many trading houses today.
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