Friday, January 11, 2013
Tristan de Gouvion Saint Cyr shares his beliefs on Elliott Wave's Theory, a technical analysis used to analyze financial market cycles, and forecast market trends by identifying extremes in investor psychology, highs and lows in prices, and other collective factors.
" Once a strong trend is visible, especially on longer time frame charts, ( minimum 4hrs) I often use Fibonacci retracements to determine an entry point, especially if confirmed by a candlestick pattern. The portion between the 38,2% and 50% retracement is a good area to enter the trade. Look for an hourly close on of these retracements and pull the trigger."says Tristan de Gouvion Saint Cyr.