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Elliot Wave Techniques Simplified: How to Use the Probability Matrix to Profit on More Trades by Bennett McDowell

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CHAPTER 4

Classic Fibonacci Sequence

Fibonacci’s Thirteenth Century Classic Number Sequence is in Harmony with the Wave Principle

Elliott’s analysis of the mathematical properties of waves and patterns eventually led him to conclude, “The Fibonacci Summation Series is the basis of The Wave Principle.” Numbers from the Fibonacci sequence surface repeatedly in Elliott Wave structures, but Elliott developed his market model before he realized that it reflects the Fibonacci sequence.

CHARLES J. COLLINS INTRODUCED THE FIBONACCI SEQUENCE TO ELLIOTT IN THE 1930S

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Elliott stated, “When I discovered the Wave Principle action of market trends, I had never ...

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