Catch a wave and you’re sittin’ on top of the world – THE BEACH BOYS
Although I am more inclined to trade commodities with more of a trend following systematic approach, I realize everyone is different. The Elliott Wave Theory is predictive in nature, and looks at market cycles in terms of wave structures that come in five parts. Five waves up followed by five waves down.
Robert Prechter is president of Elliott Wave International and is a widely followed technical analyst. He is probably the authority on The Elliott Wave Principal in the country.
I thought this would make a decent addition to the blog if only to hear different points of view from different traders. According to Prechter, we are at important points in the wave structures of some serious markets like the Dollar and stocks. Enjoy: http://viewpointsofacommoditytrader.com/631/catch-a-wave/