The forex market works in cycles ? Yes ?

[Morpheus]

I know someone out there has some knowledge of the forex market. I'm pretty sure that the market works in cycles of some kind.

A -- B --- C --- D --- E ---- F

Then the next day

A ----------- B --------C ---D ---- E ---- F

Just depends how far apart they want to space point A and B away from each other. Right? And I'm pretty sure Forex is run on a buy/sell program. If I had all the answers, I wouldn't be here. I think I'm going to start watching the market for longer periods of time. I've been watching it every night for a few months now and I'm getting better and better. Check out this trade that I made tonight. Just looking for a missing piece of the puzzle. Like maybe a map to forex. I believe forex can be mapped out from point A to B to C etc..........

[T-Raid101]

Elliot Wave Theory

[techno791]

You're going by day to day. It can still be cycles week to week, and month to month, summer to summer.

I notice the 3rd week, give or take a few days, of the month seems to just completely go into range trading. Whereas all the other weeks, with news, and such, reverse, trend, shoot up and down, etc. If you can quantify it, figure out it's ranges, and find a way to anticipate where to buy and sell for being in range, that's 25% of the month right there.

I'll admit I just noticed this the last few months, and when something happens once a month, it isn't a quick study at all. And i'm just going by daily charts here, not intraday.

If you mean patterns and not cycles, don't forget the "rule of five"!

[Morpheus]

your prediction % increases at the extremes. When price is really HIGH...your prediction % for a sell goes up. When price is low, your prediction % for a buy goes up. If you bought on a dip with a 9 pip stop loss and a 15 pip take profit, you'd have to be right about 40 % of the time to win money. So the longer you wait or the lower you buy, the more likely you are going to win and the higher your prediction % is. Agree?

[Morpheus]

if you were really patient, you could possibly almost never lose. I mean if you can wait about 2 or 3 days to make a trade. You get sell at a large extreme or buy at a very low price (extreme).

Some of those foex prediction websites hype it up. They say....EURUSD is going for 1.40 !!!! They'll even tell you to buy when you should be selling.