News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bearish
Oil - US Crude
Bearish
Wall Street
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bullish
GBP/USD
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
USD/JPY
Bearish
More View more
Real Time News
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.47% France 40: 0.43% FTSE 100: 0.37% Wall Street: -0.00% US 500: -0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/O3k9SKXgCQ
  • Silver putting in a very strong session, now up over 3% today $XAGUSD https://t.co/pLfdihO4WU
  • USD/CAD sharply lower following a taper and hint of a rate hike from the Bank of Canada $USDCAD https://t.co/gdQq5cIeHh
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Silver: 2.52% Gold: 0.70% Oil - US Crude: -0.24% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/AjYZhYS3z8
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 90.84%, while traders in Wall Street are at opposite extremes with 68.06%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/wJRQaAlA9t
  • It seems the markets are riding high, but risk is always lurking around the corner. Consider your escape plan before you find yourself in collapsing market. What are the top havens for different conditions in 2021? Find out from @JohnKicklighter here: https://t.co/1oeXWEsJkb https://t.co/rThIjSRNvN
  • US Treasury Sec. Yellen: - Banks' risk management could include new approaches - Climate-risk disclosures must be more accurate and reliable
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.71% US 500: 0.64% France 40: 0.23% Germany 30: 0.22% FTSE 100: 0.12% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/3LgzVDpRw4
  • President Biden: US still has a long way to go on vaccines.
  • $USDJPY has been trading lower this week. After dropping to a six week low early on Monday, the pair has been consolidating around the 108.00 level. $USD $JPY https://t.co/OCHsDLuc6Q
Forex Education: Trading Elliott Wave Impulses (Webinar Recording)

Forex Education: Trading Elliott Wave Impulses (Webinar Recording)

Jeremy Wagner, CEWA-M, Head of Education

In this webinar recorded earlier today, we assessed one of the cornerstone patterns of Elliott Wave Theory, the impulse.

There are three main rules associated with impulse waves:

  1. Wave 2 cannot retrace 100% or more of wave 1.
  2. Wave 3 cannot be the shortest wave relative to waves 1, 3, 5.
  3. Wave 4 cannot terminate in the territory of wave 1.

We also looked at an idealized view and incorrect labeling of an impulse. It is critically important to understand that as a budding Elliott Wave technician, if the rules above are ‘broken’ then that implies the wave labeling is incorrect and to look for a better way to count those waves.

Lastly, we finished up with some examples on how you trade using this knowledge. We discussed which waves of the impulse are the ones to focus on.

See how Elliott Wave Theory is applied in the current environment in the main markets. Join Jeremy in the US Opening Bell webinar on Mondays here.

If you cannot make the live webinars, but wish to learn more about Elliott Wave theory, grab our beginning and advanced Elliott Wave guides here.

Part 1 - Elliott Wave Impulses

Part 2 - Elliott Wave Zigzags

Part 3 - Elliott Wave Flat Patterns

Part 4 - Elliott Wave Triangles

Part 5 - Elliott Wave Complex Corrections

Part 6 - Elliott Wave Diagonals

Part 7 - Starting your Elliott Wave Counting

---Written by Jeremy Wagner, Head Trading Instructor & Certified Elliott Wave Analyst

Follow me on Twitter at @JWagnerFXTrader .

See Jeremy’s recent articles at his Bio Page.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES