Why Drive at Night in the Rain When You Don’t Have To?
See how Elliott waves helped forecast Plug Power Inc.'s (NASDAQ: PLUG) rise to 2.5-year highs
by Nico Isaac
Updated: December 14, 2017
Dealing with complexity is an unavoidable part of being human. How to manage time equally among all family members so nobody feels neglected? How to unscramble a convoluted issue at work?
How to solve the Sunday New York Times Crossword Puzzle!?
But when it comes to trading, you have a choice: Identifying opportunity doesn't have to be complicated. In fact, simplicity is the key to success.
Here, EWI's master technician and Trader's Classroom instructor Jeffrey Kennedy offers this metaphor:
"I'm not a big fan of driving at night, and especially driving at night in the rain. I much prefer driving during the day when it's sunny and clear and there's not much traffic. The reason why has to do with clarity and vision. I can see things more clearly during the day.
"Well, that kind of logic can aid us from an Elliott wave perspective, and also a trading perspective; namely: Why go through the work and hassle of trying to decipher a complicated price chart when there are plenty of charts out there that exhibit idealized and extremely clear wave patterns.
"In other words, why drive at night in the rain when you don't have to?"
As for how this strategy plays out in real time, let's re-open the Trader's Classroom archives to the May 16, 2017 lesson. There, Jeffrey showed subscribers several "ugly" price charts with undeveloped technicals and unclear Elliott wave patterns and said, "these I will leave alone."
Then, Jeffrey showed a completely different chart of Plug Power Inc. (NASDAQ: PLUG). This chart displayed a textbook impulse Elliott wave pattern. (For newbies, an impulse is a five-wave move in which wave 2 may never retrace more than 100% of wave 1; wave 3 can never be the shortest among waves 1, 3 and 5; and wave 4 may never end in the price territory of wave 1.)
Impulse denotes the direction of the larger trend. Here the larger trend is up:
With a clear pattern and other supportive technicals, Jeffrey made a high-confidence forecast for PLUG to rally above the 2.70 area in the coming weeks and months.
Now, in the December 13 Trader's Classroom, Jeffrey revisits PLUG and shows subscribers how the stock's powerful rally above 2.7 fits neatly and clearly into its Elliott wave script.
Go ahead and watch Jeffrey's analysis of PLUG live from the May 16 and follow-up, December 13 Trader's Classroom lesson. Just press PLAY and begin!
As Jeffrey puts it:
"Whenever I'm looking for a high-confidence trading opportunity... the one essential ingredient for that equation is extreme clarity."
THAT trader who can see high-confidence entries, get in and get out with
confidence — and sleep at night.
Several times a week, you meet with a market veteran and he's one of the
most sought-after teachers in the world. He has dedicated his entire
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At every meeting, you watch over his shoulder as he shows you exactly
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He uses real-life market opportunities to show you the
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Sound like an ideal fantasy? Well...
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