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• Archive: Tom Joseph on Trading Elliott Type One TradesAlthough I use several trading methods, one of my favorites is an Elliott Type One Buy / Sell, which in Elliott Wave terms, is entering a trade after the completion of a Wave 4 retracement.I consider the Type One trade the most easily identifiable pattern in an Elliott Wave sequence.
• And, over the years, I have developed studies and indicators that allow you to make this trade with a high degree of accuracy.When using Elliott Wave analysis, one can receive numerous signals.
• Some of them only become clear after the fact.
• This might be okay if you’re writing a newsletter, but, to make a successful trade, you need patterns you can identify ahead of time with a considerable amount of accuracy.
• From my experience trading since 1979, the Type One pattern can be identified with a high degree of accuracy prior to its actual occurrence.After a long Wave 3 rally, profit-taking sets in, and the market enters a retracement phase.