Here are two Fibonacci time studies on the ES daily futures. The first has occurred and there isn't a way to change it. These were "high-to-low" measurements. 
This second measurement has not fully occurred yet. The study is "low-to-high" measurements. It will be interesting to see if it is close, and, if so, how close.
Have an excellent rest of the weekend.
TraderJoe
Thanks TJ, to clarify how did you gauge 35 H-L bard with 23 bars L-H and come to conclusion around 4350-4380 arrow along with 33d +- days ? how the fib was calculated ?
ReplyDeleteFirst, this is 'time only'. Don't worry about the 'price level' of 4,350-4,380 at this point. That is only where the time ruler is placed on the chart. Second, it is just the simple Fibonacci number of days 21, 34, 55 from the Fibonacci sequence. That is 'count'.. just 'count'. It may not be correct. It is an experiment.
DeleteTJ
thanks. 89 days then :)
DeleteI actually learned this from another trader who uses calendar days and not trading days. Not sure if one method is better than the other. I don’t believe it’s a coincidence. So 8-11 is 55 days from the bottom. 8-20 is 144 days from 3-29 high.
ReplyDeletePrechter has shown similar in any number of past reports when I subscribed years ago. (just fyi - Nick Radge @TheChartist uses 'business days' - i.e. 'trading days' - only) It is likely when you get to weeks/months the calendar is sufficient. I say that because 'the week' and 'the month' includes its weekends. But for daily charts, use business days/trading days. TJ.
DeleteThanks TJ - even using calendar days it has been pretty accurate at hitting turn dates usually + or - a couple days.
DeleteCpi on Wednesday the 10th may line up nicely with that august 11 date. 4200 still looks probable as of now.
DeleteHere is a SPY cash hourly update. Watch the red wave 'e' location, then 'c'. Interestingly, the count can still be the extended first wave x(i) 'wedge' impulse count with alternation as wave (iv) did not touch the lower channel line.
ReplyDeletehttps://www.tradingview.com/x/DJFadDpm/
Pattern can go higher, if we are only in i, of, v. This seems most likely. Best alternate is v of (v).
TJ
Aside SLV - initial upward targets reached, 2 new added -
ReplyDeletehttps://www.mediafire.com/view/p31bkpl48o22f41/slv0.10x1%25282%2529.PNG/file
ES 1-Hr: given 62% or greater retraces, and a diverging MACD indicator (chart below) this is another way to potentially end the up move.
ReplyDeletehttps://www.tradingview.com/x/cFCcRhOY/
The advantage here is that the trend lines are crisper.
TJ
..but not below 4,118.00 on the ES. TJ.
Delete..and I think the problem with that count, given degree labeling, is that wave red ii is longer in price and possibly time than wave red (iv), the previous higher degree wave in the same direction (down). Thus, it is an alternate at this point. TJ.
DeleteSPX stks above 200ma -
ReplyDeletehttps://www.mediafire.com/view/81ubzj7iz8vj9tu/StksAbove200.PNG/file
ES 30-min: in the triangle fourth wave count; the 'e' wave was exceeded lower as far a I can tell, (there could still be a big corrective wave up in that count as best I can judge). TJ.
ReplyDeletehere's a link to a chart showing the level exceeded lower.
Deletehttps://www.tradingview.com/x/2BZrDimN/
TJ