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Strategies & Market Trends : Waiting for the big Kahuna

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To: Vitas who wrote (18609)	5/17/1998 11:58:00 PM
From: Berney	Read Replies (1) of 94695

The Number 55 From John Murphy's (Technical Analysis of the Futures Market): "We haven't said too much about the aspect of time in wave analysis. There's no question that Fibonacci time relationships exist. It's just that they're harder to predict and are considered by some Elliotticians to be the least important of the three aspects of the theory. Fibonacci time targets are found by counting forward from significant tops and bottoms. On a daily chart, the analyst counts forward the number of trading days from an important turning point with the expectation that future tops or bottoms will occur on Fibonacci days -- that is, on the 13th, 21st, 34th, 55th, or 89th trading day in the future. The same technique can be used on weekly, monthly, or ever yearly charts. ..." An interesting TA subject! Berney

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