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Elliot Wave Theory
 

In a Bull Market
 

An impulse wave consists

        1 = up

        2=down

        3=up

        4=down

        5=up
 

A Corrective Wave

        a=down

        b=up

        c=down
 

In a Bear Market, the impulse waves are named A-E and the corrective waves are numbered 1-3.
 

Fibonacci Sequence:

  • 0, 1, 1, 2, 3, 5, 8, 13, 21, 34, 55 …

Fibonacci ratios:

  • ½=0.5, 2/3=0.67, 3/5=0.6, 5/8=0.625 etc…
     
  • 2/1=2, 3/2=1.5, 5/3=1.67, 8/5=1.60, 13/8=1.625
     
  • The second series of numbers converge to around 1.618, called the Golden Ratio





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