The elliott wave analysis, developed by Ralph N. Elliott, is used by simply counting “waves”. According to the elliott wave theory, there is a pattern or repetitive cycles. Because of this, traders can actually predict what happens next. The disparity now happens in the application of the wave analysis because it’s hard to identify waves if you’re just a beginner. I suggest that you do extensive and further research on the matter.

Reading a japanese candlestick is easy. You just have to identify the candlestick. Know that every candlestick shows the open, close, high, and low price of a trading instrument. The wide part of the candle is the body. Where it begins and ends is the open and close price respectively. The wicks above and below the body is the highest and lowest price respectively. The color of the candlestick, meanwhile, indicates whether it is rising (bullish) or falling (bearish). It could be green and red, white and black, or orange and blue depending on the website. With this simple steps in mind, you’ll be able to read a japanese candlestick at a glance.

Forex robot is the software tools that can be attached to a trading platform to open and close trades automatically on a trader’s account. Also known as expert advisors, they are built with certain programming languages according to the individual platform type.