Tutorial on the Use of Fibonacci Ratio & Elliott Waves
This video contains a detailed tutorial on how Fibonacci ratios are used to determine the target heights of each of the waves in an impulse and the requisite a,b,c retracements. It's a lengthy video and viewing it with a pencil and paper for notations is recommended. Also, all items covered in this video except some of my personal assessments are contained in the book Elliott Wave Principle by Frost & Prechter. This book is highly recommended to always have on your desk for study.
The take home also is to fully understand that these guidelines were made specificy for equities. We know by now that cryptos have certain wave-personality traits of its own e.g. extended 5th waves, "hurry up & wait" syndrome, propensity for expanded flat corrections, etc. Thus, these fibonacci guidelines are not always applicable to cryptos and so some care must be taken for variance. I hope this is helpful and as always, I wish you MASSIVE profits!
Please review these Tutorials on Laddering! and Buy/Sell Setups!. These books: Elliott Wave Priniciple & Technical Analysis of Stock Trends arehighly recommended!
If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
BTS Wallet - d2e60e9856c36f34
BTC Wallet - 15ugC4U4k3qsxEXT5YF7ukz3pjtnw2im8B
ETH Wallet - 0x1Ab87962dD59BBfFe33819772C950F0B38554030
LTC Wallet - LefeWrQXumis3MzrsvxHWzpNBAAFDQbB66
Legal Mumbo Jumbo: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.**