Chapter 20. Elliott, Fibonacci, and Gann

Chapter Objectives

By the end of this chapter, you should be familiar with

• The basic tenets of and vocabulary used with the Elliott Wave Theory

• The rules and guidelines of the Elliott Wave Theory

• The construction of the Fibonacci sequence

• The derivation and characteristics of the golden ratio

• The reasons why Elliott Wave Theory can be difficult for the average analyst to apply

Perhaps there is a natural structure in markets. Structure is seen in many phenomena in nature. Although markets appear to be completely man-made, perhaps their existence, flowing from human emotion and reason, is a product of evolution and follows a natural order. After all, nature includes humans among its species. ...

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