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VIDEO: 3 Ways To Set Price Targets
How do you identify price points where a market rally or decline may stop and reverse?
If you're a frequent guest at elliottwave.com, you may remember a free video on how to set price targets using Fibonacci technique we shared with you a few days ago.
Jim Martens, Elliott Wave International's Senior FX Strategist and the author of that video, is not the only EWI analyst who records video updates for his subscribers. Tom Denham, EWI's Senior European Equity Analyst, does the same – several times a week.
In the video update you're about to see, Tom Denham demonstrates his technique of setting price targets for a potential trade using three factors: Common length proportions between market rallies, the theory of "round numbers," and Fibonacci projections.
May 11, 7:08 PM: "[Tom ], I thought I would let you know how much I appreciate the video updates. They are enlightening, and are a really effective communication tool. Thank you for your consistency and perseverance! Bw, S.N."
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Every Monday, Wednesday and Friday, Tom Denham's European Short Term Update brings you forecasts of the FTSE, DAX, CAC, SMI, AEX, IBEX 35, S&P/MIB and Euro Stoxx 50. The latest, May 16, Update also gives you short-term forecasts for stocks in India, China and Turkey.