By Elliottwave Forecast via Iris.xyz
U.S. Election 2020: Many traders always believe that market moves are driven by fundamental outcomes.
We at Elliott Wave Forecast believe that the market follows a code which is visible and repeats itself in every single time frame.
We operate under the impression that only a few market makers make the market. It is obvious that the so-called market makers cannot show and tell us the next big move in the market. Otherwise, every trader in the world will be a winner. Therefore, we need to keep a balance and there have to be winners and losers in the market.
We cover the code in our live session every day and make the case why sometimes it is hard to see the next path based on the timing. However, what we have been doing over the years is providing our members with opportunities before a big fundamental event takes place. These are our so-called Blue Boxes which you see in various charts from us.
The blue box is an area where a big move should take place regardless of the fundamental outcome. The dream of every trader is anticipating the next big move. But it is hard using fundamentals for that because they are not part of the market code which comes at 5-9-13 or 3-7-11. Let’s have a look at a real example which we provided for our clients in the past.
Back in 2016, Brexit was a huge event and every single forex trader was trying to guess the next big move following news and even the polls.
However, we knew the area because the code and price action was very clear. Market makers hide their big moves in such important events. So retails traders believe that the move was created by the event. The following chart shows the GBPUSD before the Brexit result and our Blue Box area where we said the GBPUSD should ideally sell off and that was the area to enter the market for a short side.
Click here to read the full article on Iris.