Running discussion on SP, page-20142

AVZ's Last big run:




This time:

After months accumulation, it appears Wave 1 started, ran up to 9.6c, then following with vicious selloff with relatively low volume, retraced to a fib point 61.8%, 5.6c for completion of Wave 2.
Are we on Wave 3 now?




Relation Between Fibonacci and Elliott Wave Theory

Fibonacci Ratio is useful to measure the target of a wave’s move within an Elliott Wave structure. Different waves in an Elliott Wave structure relates to one another with Fibonacci Ratio. For example, in impulse wave:

• • Wave 2 is typically 50%, 61.8%, 76.4%, or 85.4% of wave 1
• • Wave 3 is typically 161.8% of wave 1
• • Wave 4 is typically 14.6%, 23.6%, or 38.2% of wave 3
• • Wave 5 is typically 61.8%, 100%, or 123.6% of wave 1