Visual Guide to Elliott Wave Trading

294 Pages·2013·13.99 MB·English

by  Wayne Gorman

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Visual Guide to
Elliott Wave Trading
Since1996,BloombergPresshaspublished booksforfinance professionals oninvesting,economics, and policy
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VisualGuidetoCandlestickChartingbyMichaelThomsett
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GuidetoFinancialMarketsbyDavidWilsonVisual
GuidetoChartPatternsbyThomasN.BulkowskiVisual
GuidetoETFsbyDavidAbner
VisualGuidetoOptionsbyJaredLevy
VisualGuidetoElliottWaveTradingbyWayneGorman and JeffreyKennedy
Formore information,please visitour Websiteat www.wiley.com/go/bloombergpress.
Visual Guide to
Elliott Wave Trading
Wayne Gorman
Jeffrey Kennedy
Foreword by Robert R. Prechter, Jr.
Coverdesign:C.Wallace.
Coverimages:WavesbyPeterFirus/iStockphoto, charts courtesyWayneGorman and JeffreyKennedy.
Copyright©2013byElliottWaveInternational,Inc.Allrightsreserved.
PublishedbyJohnWiley&Sons,Inc.,Hoboken,NewJersey.
Published simultaneously inCanada.
Nopart ofthispublication maybereproduced,stored inaretrievalsystem,ortransmittedinanyform orbyanymeans,
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LibraryofCongress Cataloging-in-PublicationData:
Gorman,Wayne.
Visualguide toElliottWavetrading /WayneGorman,JeffreyKennedy;forewordbyRobertR.Prechter,Jr.
pagescm.—(TheBloombergfinancialseries)
Includesindex.
ISBN978-1-118-44560-0 (paperback); ISBN978-1-118-47953-7 (ebk);
ISBN978-1-118-47950-6 (ebk);ISBN978-1-118-47954-4(ebk);ISBN978-1-118-47951-3 (ebk);
ISBN978-1-118-75405-4 (ebk);ISBN978-1-118-75416-0 (ebk)
1. Speculation. 2. Stocks. 3. Elliottwaveprinciple. I. Kennedy,Jeffrey(Businesswriter) II. Title.
HG6041.G593 2013
332.64’5—dc23
2013005664
Printed intheUnitedStatesofAmerica
10 9 8 7 6 5 4 3 2 1
Contents
Howto Use This Book vii ■ Chapter3: Howa TrianglePositionsYouforthe
NextMove 77
Foreword ix
JeffreyKennedyonGCA
Acknowledgments xi WayneGormanonDELL
Introduction xiii
■ Chapter4: Riding Wave Cina Zigzag 99
Disclaimer xv
WayneGormanonS&PfuturesandT-bond
futures
■Part I: Trade Setups 1
■ Chapter5: UsingEndingDiagonals toTradeSwift and
■ Chapter1: The AnatomyofElliottWave Trading 3 SharpReversals 125
JeffreyKennedy JeffreyKennedyonDJIA,BSFT,SLW,andTCK
WayneGormanontheeuro
■Part II: Trading Examples 19
■Part III: GoingBeyond ElliottWave Patterns 155
■ Chapter2: HowZigzags andFlatsSetUpaTrade forthe
NextImpulse Wave 21
■ Chapter6: ApplyingTechnicalIndicators 157
JeffreyKennedyonCAT,TECH,andtheAustraliandollar
WayneGormanonsilverandrobustacoffee JeffreyKennedyonCREE,WMT,andWYNN
v
vi ■ Contents
■ Chapter7: ABasicOptions Trade 185 Appendix A:Introduction to the Wave
WayneGormanontheeuro Principle, byWayne Gorman 229
Appendix B: Bloomberg FunctionalityCheat
■ Chapter8: MoreAdvanced Options Sheet 247
Trades 195
Glossary of Elliott WaveTerms 249
WayneGormanonheatingoilandsoybeans
EducationalResources 253
■ Chapter9: PartingThoughts 223 About the Authors 255
Index 257
How to Use This Book
TheVisualGuideto...seriesisdesignedtobeacom- of relevant functions for the topics and tools
prehensive and easy-to-follow guide on today’ s discussed
most relevant finance and investing topics. All
charts are in full color and presented in a large Go Beyond Print
format to make them easy toread and use. We’ ve
also included the following elements to reinforce Every Visual Guide is also available as an e-book,
keyinformation and processes: which includes thefollowing features:
■ De nitions: Terminology and technical concepts ■ VideoTutorials: Toshowconceptsin action
thatariseinthediscussion ■ TestYourself:Multiple-choiceortrue/falsequizzes
■ KeyPoints: Critical ideasandtakeawaysfrom the toreinforce yournewfoundknowledgeandskills
fulltext ■ Pop-Ups:Definitions forkeyterms
■ Bloomberg Functionality Cheat Sheet: For Bloom-
bergterminal users, a back-of-the-book summary
vii