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<u>Fibonacci</u> Numbers and Retrace Targets: Explained

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trader53 Member Level  Saturday, 03/24/18 02:26:33 AM
Re: trader53 post# 146574
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Fibonacci Numbers and Retrace Targets: Explained





Fibonacci Numbers
http://www.stockta.com/cgi-bin/school.pl?page=fib

Fibonacci Retracements

* Common Retracements

* Moderate Retracements

* Golden Retracements

http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:fibonacci_retracemen

Fibonacci Retracements
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=77145842

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Fibonacci Numbers
are commonly used in Technical Analysis
with or without a knowledge of Elliot Wave Analysis
to determine potential support, resistance,
and price objectives.

The most popular Fibonacci Retracements are
61.8% and 38.2%



61.8% retracements
imply a new trend is establishing itself.

38.2% retracements
usually imply that the prior trend will continue

38.2% retracements
are considered natural retracements in a healthy trend.

Fibonacci Retracements
can be applied after a decline
to forecast the length of a counter-trend bounce.

________________________________________________________________

The 50% retracement is not based on a Fibonacci number.
Instead, this number stems from Dow Theory's assertion
that the Averages often retrace half their prior move.

50% retracement
implies indecision.

________________________________________________________________





Buy after an Elliott Wave 5-Wave Decline
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=137833062










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