How to Quickly Spot Common Fibonacci Ratios on a Chart
Free video lesson from our training service for aspiring traders, Jeffrey Kennedy's Trader's Classroom
by Debbie Hodgkins
Updated: August 12, 2016
Each Elliott wave pattern has its own common Fibonacci relationships between waves. You can use them to set your price targets and determine where the trend should reverse.
In other words, Fibonacci ratios are excellent tools to help you decide where to enter and exit your trades.
Learn more in this clip from Jeffrey Kennedy's service for aspiring traders, Trader's Classroom.
The Free Elliott Wave Tutorial
Learn how you can apply the Wave Principle to improve your trading and investing in this free 10-lesson tutorial. You'll learn:
- What the basic Elliott wave progression looks like
- Difference between impulsive and corrective waves
- How to estimate the length of waves
- How Fibonacci numbers fit into wave analysis
- Practical application tips for the method