Trader's Glossary

Elliot Wave Theory (EW)

The Elliot Wave Theory is named after Ralph Nelson Elliot, who argued that the movements of the stock market can be predicted by tracing a repetitive pattern of waves.
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The market share of the top 10 FX players globally reaches 80%.

Word of the day
"Shadow" - Shadows are the thin lines above and below the real body of candlesticks which display the high/low price range. Shadows are also called Wicks.
Pro Tip

pip value in quote currency = pip in decimal places X trade size

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