Applying Elliott Wave Analysis – Module 3
Fibonacci Relationships and Wave Psychology
In module 4 of this Applying Elliott Wave Analysis instruction course, Fibonacci measuring tools are the main topic in focus. In this module, we’ll discuss the foundation of the Fibonacci system, and the difference between Fibonacci retracements and Fibonacci extensions using the Fibonacci tools within the TradingView analysis platform. Instructions on how to apply the tools, as well as the most commonly used retracement and extension levels to apply using Elliott Wave analysis will be discussed.
We’ll also cover the general tendencies and the psychology behind each individual wave, including the ideal “rotation zones” for each wave – or where price is most likely to reverse direction and complete. Then we’ll move on and finish up with some live charts, applying Elliott Wave counts, structures and Fibonacci extension and retracement ratios to today’s live market charts as a demonstration.
Ready to move on to the fourth module?
Start Module 4: Channeling the Waves