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Chart Formations | Retracements | PFG Futures

Retracements
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  • Fibonacci Retracements
  • Fibonacci Retracement levels correspond percentage retracements that occur in the ebb and flow of a market trend. According to the Elliot Wave Theory, market trends tend to occur in five distinct waves: three waves that move in the direction of the trend with the middle or “third” wave being the strongest usually, alternating against two counter-trend waves. Elliot asserted that these counter-trend waves will usually “retrace” against the trending waves by 38.2, 50 and 61.8 percent (also, less frequently by 24 and 76 percent). These Retracement Percentages correspond to natural ratios discovered by the Greeks called the “Golden Ratio” and rediscovered by Fibonacci, a medieval, Italian Mathematician.

    Chart Formations | Retracements | PFG Futures
    Chart Formations | Retracements | PFG Futures

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