Want a Sure-Fire Forex Trade Setup? Look for a Triangle

By: Elliott Wave International | Fri, Feb 14, 2014
Print Email

Watch this quick educational video from an Elliott wave forex expert, Jim Martens

Last fall, the editor of Elliott Wave International's Currency Pro Service, Jim Martens, observed a beautiful pattern in the chart of the Japanese yen. This pattern, called a triangle in Elliott wave terms, offers a very clear outlook for the market.

What is a triangle? It's a corrective pattern, meaning that it moves in the direction opposite the primary trend. And, it's very easy to spot on a chart. Here's an idealized diagram of a triangle.

Idealized Charting Triangle

When a triangle ends, the old trend should resume. This allowed Jim to make a very clear forecast for the dollar/yen. Watch this 7-minute video to see the triangle he observed, and the outcome.


Foex Free Week is On

Get Forecasts for the Forex Markets FREE
Forex FreeWeek is On!

Now through 12:00 noon Eastern (NY) time on Wednesday, Feb. 19, enjoy free 24/7 access to intraday, daily, weekly and monthly forecasts inside Jim's Currency Pro Service.

Free means free. No catch, no obligation, no credit card. You get all the forex-trading analysis, charts, and video updates for the world's 11 most-popular FX markets from Elliott Wave International's Currency Pro Service.

Join Forex FreeWeek now before this rare opportunity ends >>

This article was syndicated by Elliott Wave International and was originally published under the headline (Video) Want a Sure-Fire Forex Trade Setup? Look for a Triangle. EWI is the world's largest market forecasting firm. Its staff of full-time analysts led by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to institutional and private investors around the world.



Elliott Wave International

Author: Elliott Wave International

Elliott Wave International

Robert Prechter, Chartered Market Technician, is the founder and CEO of Elliott Wave International, author of Wall Street best-sellers Conquer the Crash and Elliott Wave Principle and editor of The Elliott Wave Theorist monthly market letter since 1979.

Elliott Wave International (EWI) is the world's largest market forecasting firm. EWI's 20-plus analysts provide around-the-clock forecasts of every major market in the world via the internet and proprietary web systems like Reuters and Bloomberg. EWI's educational services include conferences, workshops, webinars, video tapes, special reports, books and one of the internet's richest free content programs, Club EWI.

Copyright © 2010-2017 Elliott Wave International

All Images, XHTML Renderings, and Source Code Copyright © Safehaven.com