Long

# #elliottwave + Fibonacci = Simple Forecasting Method | #SP500

CME_MINI:ESU2014   S&P 500 E-MINI FUTURES
228 2
Friends,

A quick and dirty way to forecast your way across the blank screen is to make use of very simple tools, such as Fibonacci forward projections of its significant 1.618 extension .

In the case of the #ES, here we are dealing with a high-probability geometry, derived from a Elliott Wave's pattern, in which we recently noted a Bullish Flat.

Hope this little pearl helps the novice traders out there.

Cheers,

David Alcindor
Predictive Analysis & Forecasting

PS: Here is the link to most recent analysis:
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@4xForecaster
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Without the knowledge of EWP             , a pattern trader might possibly have noted the Double-Bottom that resulted from Points A and C.

Here is what I recommend doing next in the case of defining a Bullish Target:

1 - Set your Fib scale at only three values: zero, 100 and 1.618
2 - Seek the most recent HIGH and use it as the starting point of your Fib scale;
3 - Seek the most recent LOW and anchor the other end of your Fib scale to it.

Best is to use a magnet option, so that it guarantees the highest precision.

4 - Look at where your 1.618 brings you, and that is probably where price will move to.

The predictive/forecasting model is a whimsical animal that carries its own target definitions, but considering that TG-1 = 2016.25 falls below above method, and TG-Hi = 2031.25 falls above it, this hugs above value with some reassuring credibility.
David Alcindor
Alias: 4xForecaster

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Here is a highlighting of the 2003.75 level - This is probably a "Make Or Break" level for the bulls:

David Alcindor
Typo correction: Pattern should read ABC, not ABB:

Thanks to you @Nightwish for pointing this out.

Appreciate the PM.

Thank you!

David Alcindor
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