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Senior analyst Jeffrey Kennedy of Elliott Wave Junctures demonstrates how you can spot trading opportunities using Elliott wave analysis and other technical analysis methods. The primary Fibonacci ratios that I use in identifying wave retracements are .236, .382, .500, .618 and .786. Some of you might say that .500 and .786 are not Fibonacci ratios; well, it's all in the math. If you divide the second month of Leonardo's rabbit example by the third month, the answer is .500, 1 divided by 2; .786 is simply the square root of .618. There are many different Fibonacci ratios used to determine retracement levels. The most common are .382 and .618. The accompanying charts also demonstrate the relevance of .236, .382, .500 .618 and .786. It's worth noting that Fibonacci retracements can be used on any time frame to identify potential reversal points. An important aspect to remember is that a Fibonacci retracement of a previous wave on a weekly chart is more significant than what you would find on a 60-minute chart. With five chances, there are not many things I couldn't accomplish. Likewise, with five retracement levels, there won't be many pullbacks that I'll miss. So how do you use Fibonacci retracements in the real world, when you're trading? Do you buy or sell a .382 retracement or wait for a test of the .618 level, only to realize that prices reversed at the .500 level?
The Elliott Wave Principle provides us with a framework that allows us to focus on certain levels at certain times. |
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来自： Arthur1668 > 《文件夹1》
