Elliott Waves: How High Is High? Part 1 by Mircea Dologa, MD, CTA
One of the keys to profitable trading is identifying the lowest low and the highest high. But how low is low and how high is high? That’s a tough question to answer. The best you can do is to apply proper tools and money management practices.
Most of us know that the best and less difficult profits to obtain are those from trading impulsive waves; the ones that may belong to an impulsive pattern or even to a corrective one. If you know something about Elliott waves, you’ll have W3-wave and C-wave, and to a lesser degree, W1-, W5- and A-waves in mind ...