Courses Infomation

How to Identify Turning Points Using Fibonacci by Wayne Gorman

Forex Trading – Foreign Exchange Course

You want to learn about Forex?

Foreign exchange, or forex, is the conversion of one country’s currency into another.
In a free economy, a country’s currency is valued according to the laws of supply and demand.
In other words, a currency’s value can be pegged to another country’s currency, such as the U.S. dollar, or even to a basket of currencies.
A country’s currency value may also be set by the country’s government.
However, most countries float their currencies freely against those of other countries, which keeps them in constant fluctuation.

Wayne Gorman – How to Identify Turning Points Using Fibonacci (Video, 800 Mb, Parts I & II)

EWI’s intensive online trading course …

How You Can Identify Turning
Points Using Fibonacci

In this powerful two-part online trading course (recorded live), EWI Senior Tutorial Instructor Wayne Gorman will share with you valuable, practicaltools to help you formulate and execute your own trading strategyby combining wave analysis with Fibonacci relationships.

Wayne will walk you through a host of charts and real-world exercises to show you, step-by-step, how to use Fibonacci relationships — alongside the Wave Principle and as a stand-alone technical tool — to help you make more confident trading decisions.

Here’s what you’ll learn:

How the “Golden Ratio” can help you tap into “golden trading opportunities”
The most important Fibonacci relationships to watch for
How Fibonacci ratios and numbers relate to the overall wave structure
How to project valuable time and price targets using Fibonacci “dividers”
Which Fibonacci price retracements to expect in each type of corrective wave
How to use Fibonacci time periods to anticipate trend reversals
How Fibonacci relationships can help add confidence to your wave count
How to establish Fibonacci “clusters” and leverage them in your trading decisions
How to formulate your own low-risk entry strategy
Techniques to help you set and properly manage risk-limiting stops
How to project moves so you can evaluate risk-reward and exit strategies
How to put it all together and generate your own high-confidence trading strategy
And MORE!

What is forex?

Quite simply, it’s the global market that allows one to trade two currencies against each other.

If you think one currency will be stronger versus the other, and you end up correct, then you can make a profit.

If you’ve ever traveled to another country, you usually had to find a currency exchange booth at the airport, and then exchange the money you have in your wallet into the currency of the country you are visiting.

Foreign Exchange
You go up to the counter and notice a screen displaying different exchange rates for different currencies.

An exchange rate is the relative price of two currencies from two different countries.

You find “Japanese yen” and think to yourself, “WOW! My one dollar is worth 100 yen?! And I have ten dollars! I’m going to be rich!!!”
When you do this, you’ve essentially participated in the forex market!

You’ve exchanged one currency for another.

Or in forex trading terms, assuming you’re an American visiting Japan, you’ve sold dollars and bought yen.

Currency Exchange

Before you fly back home, you stop by the currency exchange booth to exchange the yen that you miraculously have left over (Tokyo is expensive!) and notice the exchange rates have changed.

It’s these changes in the exchange rates that allow you to make money in the foreign exchange market.

Salepage : How to Identify Turning Points Using Fibonacci by Wayne Gorman

About Author

Wayne Gorman is a Senior Tutorial Instructor at Elliott Wave International. With more than 30 years of experience as a risk manager and trader, he began his career at Citibank managing money market and derivative portfolios, and then went on to forex trading and various treasury management roles in London and New York.

Wayne has been using the Wave Principle since 1986, and traded full time with his own capital for more than four years. He has worked exclusively with Elliott Wave International since 2002.

Known for his ability to explain the logic behind technical and contrarian trading methods in a careful and understated manner, Wayne is a consummate Elliottician. His experiences helped him develop an impressive breadth of educational materials, which any trader can use to learn Elliott wave analysis successfully.