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The Elliott Wave Trading Principle is governed by man's social nature, and since he has such a nature, its expression generates forms. As the forms are repetitive, they have predictive value. Nature has repetitive forms, human nature has them also. Knowing and trading with these repetitive forms or waves is an excellent strategy to trade the markets.

Elliott Waves identifies low risk high reward trade setups. MTPredictor Elliott Wave Trading Software identifies these low risk high reward trades setups automatically and has built in money management to correctly position size, to not over leverage the trading account, which is the biggest cause of blowing out an account very quickly.

Suggested leverage to equity should be 1% or not more than 2% at the very most with any leveraged trading account. Trading with more leveraged than that is inviting high losses. Those who have experienced this, already know what I'm talking about. Those that haven't yet and or are new to leveraged trading, heed these words if you don't want to lose money. Of course experience is the best teacher. Those of us who have survived this trading business over the years have already paid our tuition dearly with big losses. With knowledge, trade goals, a trade plan, then taking the trade, long term success can be acheived in the trading business.

Taking high risk low reward trades, and over-leveraging a trading account causes very high risk and losses. Elliott Wave either done mannually or done automatically with the trading software, can keep your losses low, and your rewards high. To do it mannually, study the books and draw it mannually on the charts. To do it automatically, trial the MTPredictor Elliott Wave Trading Software free for 30 days. Click the US Dollar Elliott Wave Forecast header link above to learn about it and trial it. Do it automatically saves a lot of time. Time is more valuable than any amount of money if you know what I mean.

US Dollar November Elliott Wave Analysis

Wave (D) for the contracting triangle should be close to completion before a move higher to complete the triangle as wave (E).

At this juncture we expect another advance in wave (E) to the 86.5-87 area before further downside. These charts are only a guide so that you can follow the action and watch for the expected action to complete the triangle. The action could play out exactly as illustrated or it may need adjustments as it follows through.

Good day and good waves! Surf's Up!

US Dollar November Elliott Wave Forecast Chart

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