AI
Sunday, June 14, 2015 11:51:08 PM
ELTP: Fibonacci Targets using the Fibonacci Arc as well as mathematical calculations for confirmation.
Note: The chart published earlier on June 14 was erroneously posted as the ELTP chart. The corrected chart is now shown.
Click on image to enlarge.
As we embark on this incredible journey with ELTP, the chart with critical price points becomes more relevant.
As you know, the target of 1.33/1.34 has been noted here on several occasions, but we don't know when we will hit that number, or what the resistance points should be until now...at least that is the hope.
What we do know is that .97 is our most recent all time high; I have pegged .1201 as a bottom point of that rise. If you note, .97 / by .1201 is '8'. Let it be also noted that a calculation of .20 X '8' is 1.60, our target for the Fib #1.62, referred to as the 'golden ratio'.
From .97 (or .9703) I will use Fibonacci #s to target stops along the way to our ultimate (at this time) $2 (100%).
.9703 X 1.08 = 1.05;
.9703 X 1.382 = 1.34;
.9703 X 1.5 = 1.455;
.9703 X 1.618 = 1.57;
.9703 X 2 = 1.9406.
There is no warranty as to the accuracy, real or implied, of information.
Note: The chart published earlier on June 14 was erroneously posted as the ELTP chart. The corrected chart is now shown.
Click on image to enlarge.
As we embark on this incredible journey with ELTP, the chart with critical price points becomes more relevant.
As you know, the target of 1.33/1.34 has been noted here on several occasions, but we don't know when we will hit that number, or what the resistance points should be until now...at least that is the hope.
What we do know is that .97 is our most recent all time high; I have pegged .1201 as a bottom point of that rise. If you note, .97 / by .1201 is '8'. Let it be also noted that a calculation of .20 X '8' is 1.60, our target for the Fib #1.62, referred to as the 'golden ratio'.
From .97 (or .9703) I will use Fibonacci #s to target stops along the way to our ultimate (at this time) $2 (100%).
.9703 X 1.08 = 1.05;
.9703 X 1.382 = 1.34;
.9703 X 1.5 = 1.455;
.9703 X 1.618 = 1.57;
.9703 X 2 = 1.9406.
There is no warranty as to the accuracy, real or implied, of information.
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