The USD/JPY cross is breaking out after taking out serious resistance level, says Matt Weller....
Combining Fibonacci and Elliott Wave Trading Strategies in Forex Trading
05/14/2009 12:01 am EST
Todd Gordon is a highly profitable foreign currency trader who has been trading full time for several years. Todd talks about his trading strategies in a very matter-of-fact way and will be the first to tell anyone that trading is hard work. However, he has found a strategy that combines elements of both Fibonacci and Elliott Wave which he uses to trade forex confidently. Here, he talks about his winning percentage and why he is comfortable keeping at the current level, how he gets in on the direction of the trend and finds key levels of support and resistance, and the 13 patterns he has found that make up the basis of his entire trading strategy. We also discuss why he refers to himself as a "pre-planned trader" and what he does each evening to prepare himself for the next trading session. We also talk about how trading currencies suits his personality and style and the one trading blunder that he will not allow himself to make.
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