Elliott Wave Theory in conjunction with Fibonacci numbers enabled me to buy 500 CBA shares near the bottom of the 4th wave which corrected the 3rd wave by exactly 61.8%, right to the cent. This wave confirmed my wave count that a final 5th wave was about to occur. From then it was only a matter of time for the correction to start.
EWT is an art not a science which means that it is possible for two people to have conflicting views. The more experience you have in using EWT the more often you get it right. Hindsight is all very well but it is being able to be confident in a prediction that makes EWT different from many other methods of understanding chart formation.
CBA Price at posting:
$134.89 Sentiment: Sell Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)