CHAPTER 10Forecasting Techniques: Waves and Projections
Section 10 teaches various forecasting techniques using wave projections and retracements. The section also teaches about the relationship between Phi and Fibonacci, and how that relationship can be used in forecasting future market prices. Traders learn how to calculate five basic impulse projections, three corrective projections, and the trend terminus. They are also taught how to calculate and use retracements and identify confluence between the retracements and wave projections.
QUESTION 10.1 MMM Monthly with Swing 2 Labels
List the waves up from 40.87, and explain how you made your choices.
Which impulse target was fulfilled at 146.43 within 2 percent?
Which corrective projection was fulfilled at 146.43 within 2 percent?
Fill in the following table:
X
Y
Z
Target
Price
1
40.87
98.19
68.63
L
2
68.63
95.46
86.74
X
3
81.99
140.43
123.61
S
4
123.61
146.43
138.43
E
5
123.61
146.43
138.43
P2
Based on the table, what might be the next confluence point above 146.43?
List the waves that contain the same YZ leg, where Y is 146.43.
Put the X values for the waves you've listed for the list in “6,” and fill out the retracements from the X value to 146.43. Shade any retracements already met.
From
21%
38%
50%
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