MOB & Fibonacci contradiction

[Philby]

In the attached chart I was looking for where Wave 3 might end to see if the Risk - Reward was worth the bother.

What is interesting is that when I plotted the MOB and then the Fibonacci extension they did not coincide ie: MOB somewhere between 1.618 and 2.618.

What is the usual relationship of the MOB to the Fibonacci Extension ?

Appreciate any comments on the chart please.

[Philby]

Re: MOB & Fibonacci contradiction

Appologies to all for leaving the chart off the original post.

Originally posted by Philby
In the attached chart I was looking for where Wave 3 might end to see if the Risk - Reward was worth the bother.

What is interesting is that when I plotted the MOB and then the Fibonacci extension they did not coincide ie: MOB somewhere between 1.618 and 2.618.

What is the usual relationship of the MOB to the Fibonacci Extension ?

Appreciate any comments on the chart please.

[Philby]

Original Chart showing MOB & Fibonacci contradiction

[Harndog]

MOB & Fib Contradiction

Philby:
I do not see a contradiction.
What I see is a few models of price behavior (so of use and some of little use) and price moving up. And, if the Fib's and MOB does not provide you with greater clarity, then don't use them. However, you get get paid in price action, so watch the price behavior rather than trying to make your indicators "right."
As separate tools:
The MOB is saying 7.50 price target is valid regarding price and time. By time, I mean the timing mark. The MOB projection is valid coming off the old Wave 5 Pivot high.
The Fibonacci is saying this is strong move off the bottom. But price is already telling you this information.
XTL- I like the XTL being Blue - it is saying data is skewed towards buyers.
5/35 Osc - The oscillator has broken above the strength bands - this is a strong Wave 3.

In my opinion, this stock is in a wave 3 and it will continue moving higher until it stops. By this I mean, price is making higher high sand higher lows - this is bullish action. I don't know how high it will travel, but the MOB with its timing mark is giving you a good idea.

I hope this is of value.

To help with the communities understanding of the MOB, I am attaching my notes of the MOB study.

Harndog

[Philby]

H,

I agree with all you say - no objections really - re-reading my post I could have been a little clearer.

In the GET technical guide (page T38) it talks about 75% of wave 3's ending between 1.6 and 2.62.

Refering to the earlier chart it would seem that the MOB is indicating that this Wave 3 is in the 8% that exceeds 2.62.

[fabrizio]

Lert me add few things.

MOB and Ellipses, XTL , are generated by proprietary algorithms.

Albeit Mob and Ellipse - are ruled by Fibo, thgey take in consideations many other factors ( as time per example ) unknow to us; and their Positions are ruled by those algorithm.

So Mob is far more complex than Fibo Ext. And there is NO contraddiction at all.

[MR]

Hi Philby,

Harndog and Fabrizio are correct in what they said. They are not contradictions; you may just be misunderstanding or misinterpreting all the relationships. Some are similar, but independent.

I would only add sometimes when you find wave relationships, as you are noticing-- were they do not meet expectations-- one idea: try re-issuing that chart to similar lower time frame to check out the math relationships. If you have the real-time you can enter multitude of times. When I do this, somehow I can end up finding what I am looking for on the other time frame that better clarifies a concern.

You may have the E-O-D version, so it may not always be easy to solve these kinds of confusions. If so, another trick, try using other alternative wave counts to do what you are trying to do. Test those numbers. Sometimes just this alone can better clarify at least a wave count possibility in progress, or offer another other target idea to monitor.