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FOREX WAVE THEORY This page intentionally left blank FOREX WAVE THEORY A Technical Analysis for Spot and Futures Currency Traders JAMES L. BICKFORD McGraw-Hill New York Chicago San Francisco Lisbon London Madrid Mexico City Milan New Delhi San Juan Seoul Singapore Sydney Toronto Copyright © 2007 by The McGraw-Hill Companies. All rights reserved. Manufactured in the United States of America. Except as permitted under the United States Copyright Act of 1976, no part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without the prior written permission of the publisher. 0-07-151046-X The material in this eBook also appears in the print version of this title: 0-07-149302-6. All trademarks are trademarks of their respective owners. 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McGraw-Hill and its licensors do not warrant or guarantee that the functions contained in the work will meet your requirements or that its oper- ation will be uninterrupted or error free. Neither McGraw-Hill nor its licensors shall be liable to you or anyone else for any inaccuracy, error or omission, regardless of cause, in the work or for any damages resulting therefrom. McGraw-Hill has no responsibility for the content of any information accessed through the work. Under no circumstances shall McGraw-Hill and/or its licensors be liable for any indirect, incidental, special, punitive, consequential or similar damages that result from the use of or inability to use the work, even if any of them has been advised of the pos- sibility of such damages. This limitation of liability shall apply to any claim or cause whatsoever whether such claim or cause arises in contract, tort or otherwise. DOI: 10.1036/0071493026 Professional Want to learn more? We hope you enjoy this McGraw-Hill eBook! If you’d like more information about this book, its author, or related books and websites, please click here. For more information about this title, click here Contents List of Figures and Tables ix Acknowledgment xv Introduction xvii Part 1. Currency Markets 1 1. Spot Currencies 3 2. Currency Futures 9 Part 2. Technical Analysis 13 3. Pattern Recognition 15 4. Econometric Models 23 5. Crossover Trading Systems 27 6. Wave Theory 37 Part 3. Reversal Charts 39 7. Point and Figure Charts 41 8. Renko Charts 45 9. Swing Charts 49 v vi Contents Part 4. Brief History of Wave Theory 59 10. Origins of Wave Theory 61 11. Gann Angles 69 12. Kondratiev Wave 75 13. Elliott Wave Theory 79 14. Gartley Patterns 89 15. Goodman Swing Count System 95 Part 5. Two-Wave Cycles 103 16. Properties of Two-Wave Cycles 105 17. Enhancing the Forecast 109 Part 6. Three-Wave Cycles 113 18. Basic Types of Three-Wave Cycles 115 19. Forecasting the Third Wave 123 Part 7. Four-Wave Cycles 127 20. Names of Multiwave Cycles 129 21. Properties of Four-Wave Cycles 133 Part 8. Five-Wave Cycles 137 22. Properties of Five-Wave Cycles 139 23. Forecasting the Fifth Wave 143 Contents vii Part 9. Six-Wave Cycles 149 24. Properties of Six-Wave Cycles 151 25. Forecasting the Sixth Wave 153 26. Double-Wave Forecasting 159 Part 10. Advanced Topics 163 27. Data Operations 165 28. Swing Operations 173 29. Practical Studies 181 Appendices 189 A. ISO Currencies Pairs 191 B. Exchange Rates 197 C. Global Banking Hours 201 D. Basic Three-Wave Cycles 203 E. Resources 205 Index 213 This page intentionally left blank

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Discover a New Approach to Analyzing Price Fluctuations in the Foreign Exchange Market Forex Wave Theory provides spot currency speculators and commodity futures traders with an innovative new approach to analyzing price fluctuations in the foreign exchange. Written by Jim Bickford, a successful vet