Learning Materials
Elliott Wave Fibonacci Relationships
đ Elliott Wave & Fibonacci:
Elliott Wave Theory combined with Fibonacci ratios offers powerful insights into market movements, helping traders identify potential reversal and continuation points.
đ Key Fibonacci Relationships
1 Impulse Waves:
âą Wave 2: Typically retraces 50%, 61.8%, 76.4%, or 85.4% of Wave 1.
âą Wave 3: Often extends to 161.8% or 261.8% of Wave 1.
âą Wave 4: Usually retraces 23.6%, 38.2%, or 50% of Wave 3.
âą Wave 5: Commonly extends to 61.8%, 100%, or 161.8% of Wave 1 or Wave 3.
2 Corrective Waves
âą Wave A: Initial decline or rise, setting the stage for the correction.
âą Wave B: Retraces 38.2%, 50%, or 61.8% of Wave A.
âą Wave C: Typically equals 100% or 161.8% of Wave A.
3 Complex Corrections (Double Three - WXY)
âą Wave W: First corrective structure (zigzag, flat, or triangle).
âą Wave X: Retraces 50%, 61.8%, 76.4%, or 85.4% of Wave W.
âą Wave Y: Extends 61.8%, 100%, or 123.6% of Wave W, but not more than 161.8%.
đą Fibonacci Extensions and Retracements:
Utilize Fibonacci tools to measure key levels and enhance your trading strategy.
đĄ Pro Tip:
Always confirm Fibonacci levels with other indicators and market analysis for stronger signals.
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