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IV. When Does Seven Equal Three? Figure 4-5 Figure 4-6 The Trader’s Classroom Collection — published by Elliott Wave International — www.elliottwave.com 19
V. Origins and Applications of the Fibonacci Sequence From Fibonacci to Elliott You can tell that a trendy word or phrase has reached “buzzword” status when it is more often used to impress than to explain. A few years ago, the buzzword I heard most often was “win-win,” a concept popularized by Stephen Covey. Technical analysts, in recent years, have unfortunately elevated “Fibonacci” to the same level. A better understanding of Fibonacci may not save the term from buzzword status, but it will provide some insight to its popularity. Leonardo Fibonacci da Pisa was a thirteenth-century mathematician who posed a question: How many pairs of rabbits placed in an enclosed area can be produced in a single year from one pair of rabbits, if each gives birth to a new pair each month starting with the second month? The answer: 144. The genius of this simple little question is not found in the answer, but in the pattern of numbers that leads to the answer: 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, and 144. This sequence of numbers represents the propagation of rabbits during the 12month period and is referred to as the Fibonacci sequence. Figure 5-2 Figure 5-1 The Trader’s Classroom Collection — published by Elliott Wave International — www.elliottwave.com 20
Page 1 and 2: MARCH 2002 — SEPTEMBER 2004 TRADE
Page 3 and 4: THE TRADER’S CLASSROOM COLLECTION
Page 5 and 6: Page No. 5 I. How To Make Yourself
Page 7 and 8: I. How To Make Yourself a Better Tr
Page 9 and 10: III. How the Wave Principle Fits Ce
Page 13 and 14: Figures 3-10, 3-11 and 3-12 (Coffee
Page 19: Three, 7 and 11 swings are signific
Page 23 and 24: V. Origins and Applications of the
Page 25 and 26: In Figure 5-7, we see that wave 5 w
Page 27 and 28: V. Origins and Applications of the
Page 29 and 30: VI. How To Identify and Use Support
Page 31 and 32: VI. How To Identify and Use Support
Page 33 and 34: VII. How To Draw and Use Trendlines
Page 47 and 48: VIII. How Historical Extremes Act L
Page 49 and 50: VIII. How Historical Extremes Act L
Page 51 and 52: IX. How To Interpret Failed New Hig
Page 53 and 54: IX. How to Interpret Failed New Hig
Page 55 and 56: X. How “Gaps” Attract and Then
Page 57 and 58: X. How “Gaps” Attract and Then
Page 59 and 60: XI. How To Identify “Firsts” as
Page 65 and 66: Appendix A: How Jeffrey Kennedy’s
Page 67 and 68: Appendix B: A Capsule Summary of th
Page 69 and 70: Fibonacci Relationships Appendix B:
Page 71:
Appendix B: Capsule Summary of the
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