Elliott Wave and Fibonacci retracement
Diupdate
Elliott Wave basic
1. impulse wave (5 sub waves or leading diagonal)
2. corrective wave (corrective patterns)
3. impulse wave (5 sub waves or extended 5 sub waves)
4. corrective wave (corrective patterns)
5. impulse wave (5 sub waves, extended waves, ending diagonal or failure)
Elliott wave rules
1. wave 2 does not fall below the starting price wave 1 (point 0)
2. wave 3 is not the shortest wave by price movement
3. wave 4 does not overlap the range of wave 1.
Fibonacci Retracement
0.00 - point 1 (the starting price of wave 1)
38.20 - turning point
50.00 - turning point
61.80 - turning point
100.00 - point 2 (the ending price of wave 1) (break out confirms dow theory)
127.20 - short term target
161.80 - common target
261.80 - extended target
361.80~423.60 - long term targets
Fibonacci extension
point 1 - the starting price of wave 1
point 2 - the ending price of wave 1
point 3 - wave 2 (0.00)
1. impulse wave (5 sub waves or leading diagonal)
2. corrective wave (corrective patterns)
3. impulse wave (5 sub waves or extended 5 sub waves)
4. corrective wave (corrective patterns)
5. impulse wave (5 sub waves, extended waves, ending diagonal or failure)
Elliott wave rules
1. wave 2 does not fall below the starting price wave 1 (point 0)
2. wave 3 is not the shortest wave by price movement
3. wave 4 does not overlap the range of wave 1.
Fibonacci Retracement
0.00 - point 1 (the starting price of wave 1)
38.20 - turning point
50.00 - turning point
61.80 - turning point
100.00 - point 2 (the ending price of wave 1) (break out confirms dow theory)
127.20 - short term target
161.80 - common target
261.80 - extended target
361.80~423.60 - long term targets
Fibonacci extension
point 1 - the starting price of wave 1
point 2 - the ending price of wave 1
point 3 - wave 2 (0.00)
Catatan
youtu.be/uqB_a6iOxOk
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