How to Quickly Spot Common Fibonacci Ratios on a Chart
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Each Elliott wave pattern has its own common Fibonacci relationships between waves. You can use them to set your price targets and determine where the trend should reverse.
In other words, Fibonacci ratios are excellent tools to help you decide where to enter and exit your trades.
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This article was syndicated by Elliott Wave International and was originally published under the headline How to Quickly Spot Common Fibonacci Ratios on a Chart. EWI is the world’s largest market forecasting firm. Its staff of full-time analysts led by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to institutional and private investors around the world.