Elliot Wave / Fibo projection question

momothebored

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Let's say i make Fibo projections off a wave 2 pullback.

So i use Fibo multiples.. 127.2%, 161.8%, 200%, 261.8% etc to project a Wave 5 end point.

How would i know which one is most probable?

tyvm
 
this is as good a guide as any
 

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any qu feel free

I looked at Elliot's Wave sometime back but found it too involved at the time being a wannabee quick winner in trading moved on to other indicators and thus ended up losing. :(

Now that I'm somewhat of a seasoned trader I notice that there is often a close correllation with all; EW / Fib retrace/extensions and Pivot Points.

On the long TF charts I mark where these three coincide as major lines for S/R and off I go trading :)
 
Motherboard has done a good job,but after all we r dealing with probablilty,we see Mr.Motherboard has given four projections,127%,161%,200%,261%,out of these one may be ok or nearer to ok,chances r 25% to be correct,but for mkt makers it is 100%,lets search where is 100%.
 
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Let's say i make Fibo projections off a wave 2 pullback.

So i use Fibo multiples.. 127.2%, 161.8%, 200%, 261.8% etc to project a Wave 5 end point.

How would i know which one is most probable?

tyvm

The diagrams posted above should be useful for plotting in advance, but I also would always advise to not just expect that it will work every time and jump in with the 'most probable'. You should also keep an eye on the way the price behaves as it approaches each of the levels, as this is usually a pretty good indication of which one is actually significant/relevant at that point in time. Don't forget that sometimes you can be plotting things inaccurately (inevitably will happen all the time), so watching the price reaction at each level is like your safety net.
 
Just noticed I am a couple of months late to the party on this one - was browsing the more recent topics on the forum, didn't notice how out of date most were! Excuse my response above.
 
Just noticed I am a couple of months late to the party on this one - was browsing the more recent topics on the forum, didn't notice how out of date most were! Excuse my response above.

wave 5 is 200% of wave 1..mark the start of the elliott sequence as wave 0 and the 100percent mark as the end of wave 1 (or beginningofwave 2). Wave 5 should hit 200% and wave 3 161.8%
 
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