Wave analysis fan club - page 65
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The ratio of any number to the previous number is approximately 1.618 (the inverse of 0.618). For example: 13: 8 = 1,625; 21: 13 = 1,615; 34: 21 = 1,619. The higher the numbers, the more they approach the value of 0.618 and 1.618.
The ratio of any number to the one following it in one approaches 0.382 and to the one preceding it in one approaches 2.618. For example: 13: 34 = 0,382; 34: 13 = 2,615.
The Fibonacci sequence contains other curious ratios, or ratios, but those we have just cited are the most important and best known. As we stressed above, Fibonacci is not actually the discoverer of his sequence. The fact is that the coefficient of 1.618 or 0.618 was known to ancient Greek and Egyptian mathematicians, who called it "the golden ratio" or "the golden ratio". Its traces can be found in music, fine art, architecture and biology. The Greeks used the Golden Ratio in the construction of the Parthenon and the Egyptians in the construction of the Great Pyramid at Giza. The properties of the Golden Ratio were well known to Pythagoras, Plato and Leonardo da Vinci.
Fibonacci coefficients and correction length percentages
Since only one out of three impulse waves is stretched, the other two waves are equal in length and time of completion. If the fifth wave is being stretched, waves 1 and 3 should be almost equal. If the third wave is being stretched, waves 1 and 5 would be more or less equal.
The minimum reference point for the top of wave 3 will be the point whose coordinates are obtained by multiplying the length of wave 1 by 1.618, and adding the product to the index of the base of wave 2, i.e. to the value corresponding to the lowest point of wave 5.
The upper point of wave 5 can be established by multiplying wavelength 1 by 3.236 (this is 2 x 1.618). The resulting product must be added to the value of the top or base of wave 1. Accordingly, we will obtain the maximum or minimum reference point.
When waves 1 and 3 are equal and wave 5 is expected to extend, a price point can be obtained as follows. First, the distance from the bottom of wave 1 to the top of wave 3 should be measured and multiplied by 1.618. The product obtained, in turn, is added to the value of the lowest point of wave 4.
During a correction (in the case of a normal zigzag correction of the 5-3-5 type), wave C often reaches the length of wave A.
The possible wavelength C can also be measured by multiplying 0.618 by the wavelength A, and subtracting the resulting product from the base value of wave A.
In the case of a flat 3-3-5 type correction, where wave B reaches or even overlaps the top of wave A, wave C would be approximately equal to 1.618 wavelength of wave A.
In a symmetrical triangle, the ratio of each successive wave to the previous wave is approximately 0.618.
CONCLUSION .
A complete bull market cycle consists of 8 waves: 5 rising waves followed by 3 falling waves.
The trend is subdivided into 5 waves in the direction of the next, longer trend in the hierarchy.
A correction always consists of three waves.
Simple corrections come in two types: 5-3-5 zigzags and 3-3-5 flat waves.
Triangles are usually formed on the fourth waves (this pattern always precedes the last wave).
A triangle may also be a corrective B wave.
Any wave is part of a longer wave and is subdivided into shorter waves.
Sometimes one of the impulse waves is extended. The other two must remain equal in time and extent.
The mathematical basis of Eliot wave theory is the Fibonacci sequence. The number of waves that form a trend coincides with the Fibonacci numbers. Fibonacci coefficients and correction length ratios based on them are used to determine price targets. Correction length ratios to the previous market movement are often 62%, 50%, and 38%.
The alternation rule warns not to wait for the same price trend to occur twice in a row.
Bull markets should not fall below the base of the previous fourth wave.
Wave 4 should not overlap with wave 1 (although, this rule is sometimes violated in the futures markets).
The main aspects of the Elliott Wave Theory are (in order of importance): wave form, wave ratio, and time.
Wave analysis shows better results in the mass markets, gold and Forex.
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I went to Nyroba's blog,he is trying to identify waves with the ZigZag indicator, but ZigZag is not for waves, although ZigZag is not a bad way to make money without overthinking analysis .Nyroba left the forum because of his ego ... As for thetrader's ego, he has to fight it, but if he cannot fight his ego, the market will try to h unt him,because he hasn't got a chance to become a market trader.Why ? Why? IRIP become interested in this thread? What do the numbers on the screens look like? What matters is the presumed movement with positive results! If you assume that the screenshot is beautifully painted like this but the result is negative, all this beauty is meaningless.
Waiting for the moment of truth!
Good day to all.
I have not abandoned the branch, just because there were no opponents to maintain discussion and stopped posting and went to another forum (and talk to yourself, somehow not very interesting :)).
This thread was originally created at the suggestion of ZetM, as the disagreement between ZetM and Noterday in the views (methods) on the Elliott Wave Analysis has reached a critical value.
A marking from him
Presumably a pullback to the support line and up to (5)
Presumably wave (4) is fluttering into a triangle...
And so the price crossing the red line cancels the previous assumption... Consequently, the marking is wrong!
Behind the end of the fifth wave assumed devergence... Then a zigzag (a) (b) (c) developed and presumably a downward impulse... But if the price rebounds from the green channel line, it means the flat and downward impulse is cancelled... We wait for developments.