Wave analysis

Commodity and financial markets have been operating for several hundred years and get better all the time. But whichever technical means are used to equip the market, it will always divide people into two main categories — vendors and buyers — which are united by contradictory incentives: to buy on the rims and sell at a higher price.

Every member of trades endeavors to forecast the price which suits them best. They invented a variety of charts, indicators and theories to achieve this goal. Thousand of crabbed volumes and software were designed. But only successful methods stood the test of time. They undoubtedly include Elliot wave’s theory — chart system of analysis and forecast of the financial markets — which goes back to the beginning of the previous century.

In the year 1938 Ralf Elliot, borrowed a general idea and number of terms from Dow theory and pictorially demonstrated how the mood of stock members renders in the form of certain chart models or their combinations. He described in details how the movements of the market (or "waves" in his terms) do form certain models, what is the law making these models alternate each other on charts, enabling analyst to forecast further price movement.

Ever since wave theory was improved and supplemented by analysts from various countries. The web–area of "Broco" group is the right place for finding wave forecast, theoretical and practical recommendations on the basis of the current version of the wave Law as applied to the FOREX global market.

All the data is free and enough for starting trading on the financial markets on the condition you perform a regular work on your own. You are free to choose the level of your preparation — from beginner’s to advanced level and to receive expert advice or the answer for the question.