Forex Learning - Mastering Elliottwave by Gleen Neely
As you all see in most of my post I’m frequently using Elliottwave method in my forex analysis.This is because in my point of view when you start to trade using Elliott,you will never find others method.Here I want to recommend one Elliott book that explain in detail about Elliottwave theory.This book titled ‘Mastering Elliot Wave: Presenting the Neely Method: The First Scientific, Objective Approach to Market Forecasting with the Elliott Wave Theory’ by Glenn Neely and Eric Hall.
Reader review :
This book is actually for those who want to “master” the Elliott wave theory. Though Mr Neeley explains his method from the scratch, you have to spend a great amount of time to understand how to identify the waves and how you should apply the rules and guidelines even if you know the theory. After long hours of studying the book and applying the techniques on the price charts, you will surprisingly find out that your view on the technical analysis and Elliott wave theory changed.“A large portion of market technicians spend their time trying to manipulate price data to find that “magical” key-indicator. How can a transformation of price data be better than the original data?” says Mr Neeley. If you’re in the search of the “magical” key indicator(s), this book is not for you, since there’s not even a word about the technical indicators, but when you finish studying the book, you will see that you don’t need to look for an indicator.
Since Fibonacci numbers and golden ratio are the most important parts of the wave theory, you have to know how to apply them on the charts. This book is the best one I’ve ever read about how to apply Fibonacci techniques on a price chart. Not only the price distance, but the time elapsed to form the waves are dependant with the Fibonacci numbers and this book teaches you how to use them.
Author also defines clearly how to apply the Rule of Alternation, Rule of equality and Rule of Complexity. Further you read, you learn how to analyse complex wave structures and what to expect when the waves are advancing to form larger waves..reviewed by Tuncer Sengoz “tuncers” (Istanbul Turkey)
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May 1st, 2007 at 10:14 am
[…] This book will be my second Elliottwave book that I read,the first one I’ve menstion in my previous Elliottwave learning here : Mastering Elliottwave. […]
July 29th, 2007 at 5:33 pm
[…] Berbalik pada buku Elliott wave tadi.Buku ini adalah buku Elliott wave kedua saya baca selepas buku Mastering Elliottwave oleh Gleen Neely.Nukilan tentang buku ini buleh rujuk di blog saya yang lagi satu disini : Mastering Elliott Wave. […]