Fibonnaci Extension miscalculation on my part?

[fabrizio]

Matt
Thanks for the excellent work

I was deep in position and I honestly skipped the Dana's cartingt as priority (N)

Thanks Matt. I hope that Dana now got it thanks to your chart

Chart s are always 100 times better tahn words,

BTW Dana, this is Esignal BB and the way we each one support the other .....we aspect -you once fully accustomized with yourvmethodology to give us your contribution as Matt Did with me.....
Kidding... simpy we like to support others . and see that we can transfer that little knowledge we have to them..


Have a good day.

[dberliner]

As soon as I will feel comfortable enough following my methology ( which hasn't fully been established yet) , I'll be more than happy to assist others..

In fact , a fortune teller told me yesterday that I'd be the next Marcus Rinehart in 15 years



Dana Berliner

[fabrizio]

Originally posted by dberliner
As soon as I will feel comfortable enough following my methology ( which hasn't fully been established yet) , I'll be more than happy to assist others..

In fact , a fortune teller told me yesterday that I'd be the next Marcus Rinehart in 15 years



Dana Berliner

This is the first time I read I trader thinking in humble way : I am used to say that I do not know if I have enough time in my life to became a decent trader so.........( Btw I'm 46 but I do not want to go over the 70: I love too much to dare in my sports so.....)

Ciao!

[MR]

Fabrizio, I be 46 in March! We the same age!

[MR]

Would you be interested in seeing some Fibonacci ideas? It isn't complete, but maybe what I have might help a little?

Here is a Fib start...

[MR]

We start with the price distance of each wave. To be able to apply successfully Fibonacci Extension calculations we need to review this basic wave labeling relationship with price .

The price distance of each wave is measured as a vertical distance from the beginning of the wave to the end of the wave. The length is measured in price points or units.

[MR]

Length of Wave 1 and 2....

[MR]

length of Wave 3...

[MR]

Length of Wave 4...

[MR]

Length of Wave 5...

[MR]

Now before we start on how to calculate a Fibonacci Extension, let's introduce what Fibonacci and 'Extensions' actually are, how does it relate to Elliott Wave theory.....

[MR]

Fibonacci ratios are mathematical ratios derived from the Fibonacci sequence. The Fibonacci sequence is the work of Leonardo Fibonacci, circa 1180 ACE. The Fibonacci sequence is used in many applications, including engineering, space studies, stock market actions, and many other fields.

Fibonacci is a proven approach for measure price movement relationships. For Elliott Wave theorists, it means Fibonacci numbers are tools to help guide us in our interpretation where we think price movements will go, based on human 'fear and greed' actions, reactions, or over-reactions factors.

[MR]

The most common Fibonacci ratios used in the stock markets are:

1 - 1.618 - 2.618 - 4.23 - 6.85 (multiples)
0.14 - 0.25 - 0.38 - 0.5 & 0.618 (ratios)

There are other numbers, but these are the ones we tend to focus on for defining at least the short-term wave patterns.

[MR]

Our ultimate goal here is to return to the question, "How do I calculate a Fibonacci extension?" But we need to continue to work with some basic, yet very important information if we want to finally see how Fibonacci extension calculations interplays in all this....

[MR]

Have you ever wondered why wave counts are labeled when and were? Do you wonder the same about Wave (i.e., - 5) projections?