A few tips on entry.exit targets (excerpt from a post sent to a contact on another site): 'Elliott Wave is a must. Wikipedia is all you need. Now, I have found this to be a learned skill in the sense that it must at some point come second nature almost as it is difficult to detect the breaks and it takes time and a few tricks (Aha! Tricks...shortcuts!!!)
First, study a 6 mo candle chart to see if you can discern where the bottom begins (Wave 1), pulls back (2); then usually, but not necessarily zooms for a longer wave (3); then pulls back and commonly meanders and dips(4); then the topper 5. Then you have the pull back Waves A, B, C. Wiki does a nice job spelling it out.
With EW, you want your Fibonacci #s. Again, you will learn to finesse these. The Golden Ratio, .618 and its multiples; .5 (and its multiples) the typical, but not necessarily is mostly used in retracement; .382 and its multiples is younger brother to .618. (.25, .75, 100%, also are sometimes used, but set them aside for now as they don't come into play so often and are more customarily used with the Major Mkts and Indices.)
For example, I looked at ELTP 6 mos today and the top is .23; if I take .23 divide by 1.08 (Use this a lot when looking for short pullbacks; clue: the 50dma is right beneath it! The result is about .213. So there is your .08 in use.'
