This Chart is a an example of a "Golden" Fib series. This Concept is from "Chapter 5" of my going "book". This Religion is of the universality of the "Golden Ratio".
Marked on chart are "Pings", ricochets that one can almost HEAR. "Not all Pings start a reversal, but Most reversals start with a Ping." Top had a "Loud" ping, with subsequent waves also marked by Pings.
Every Ping is like a bug hitting a spider's Web. The vibration alerts and emboldens other strands. Thus we observe the behavior at each strand for clues.
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I do not use "Fibs" in the "traditional" manner (retracements). I use Fibs to plot "Ripples" (extensions) created by "Impulses". Then look for "Confluences" to map the "interference Pattern".
My "Book" detailing my Methodology with Numerous Examples: Chapter 1: Chapter 2: Chapter 3: Chapter 4: Chapter 5: Chapter 6: Chapter 7:
Great stuff. Use the initial impulse as a fractal to generate future gnomic growth! That's what you want!
FWIW... Ideas:
I've seen/used similar on intraday basis but quantified the first (for example) 60 minutes of trading as the impulse measure and used the high/low of that frame.
Also used something similar but have also measured the last impulse of the opposite direction before turn, then used that measure as unit of growth.
Or measured from (for example) bottom to next bottom, instead of low to first high.
I haven't gone through all posts, but what you appear to be missing is time. A Gann person would quote you (fwiw) "time is the most important factor" and I would look into using that first measured impulse to also quantify time. If that impulse is 585 pts, then maybe you can use 585 hours, then maybe next turn is 585 hours*.618 or something. OR if the impulse took 117 hours to complete just use 117 * 1.618 or other measures.
However you do it, getting the xy axis of both time and price is what you want for higher probability. If you know "time" is due then you can narrow down where the closest, or most probable price target happens to be. Otherwise, as the guy said below (and many of us in same boat), you can have some pretty epic calls where fib levels stops price, but only after the fact, and trading it "real time" its tough to know it if will stop at 2.618 or 4.23 etc.
Just some thoughts. But this is definitely some of better work i've seen here!):0
Helical_Trades
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Very very good target 🎯🆗
Thanks! 🙌
Petermac84
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Load of nonsense, u have just circled any "ping" that suit your argument while ignoring "ping" that do not!
I hope the book does well!
FWIW... Ideas:
I've seen/used similar on intraday basis but quantified the first (for example) 60 minutes of trading as the impulse measure and used the high/low of that frame.
Also used something similar but have also measured the last impulse of the opposite direction before turn, then used that measure as unit of growth.
Or measured from (for example) bottom to next bottom, instead of low to first high.
I haven't gone through all posts, but what you appear to be missing is time. A Gann person would quote you (fwiw) "time is the most important factor" and I would look into using that first measured impulse to also quantify time. If that impulse is 585 pts, then maybe you can use 585 hours, then maybe next turn is 585 hours*.618 or something. OR if the impulse took 117 hours to complete just use 117 * 1.618 or other measures.
However you do it, getting the xy axis of both time and price is what you want for higher probability. If you know "time" is due then you can narrow down where the closest, or most probable price target happens to be. Otherwise, as the guy said below (and many of us in same boat), you can have some pretty epic calls where fib levels stops price, but only after the fact, and trading it "real time" its tough to know it if will stop at 2.618 or 4.23 etc.
Just some thoughts. But this is definitely some of better work i've seen here!):0