Going Beyond Fibonacci and Gartley

Focus: STOCKS

Jeff Greenblatt Image Jeff Greenblatt Director, Lucas Wave International, LLC

No other chart squares out so beautifully in price and time as the 1-minute YM. Why is that? Here’s what I discovered, writes Jeff Greenblatt, director of Lucas Wave International and editor of The Fibonacci Forecaster.


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Last week I showed you how to apply ratio analysis going beyond the golden spiral on the 1 min YM. Now I’m going to show you how to apply a retracement on the Emini NQ in a time frame larger than the 1 minute. After all, the speed of the 1 minute is not for everyone. To be sure, I cracked the YM before any of the other charts in the Emini because it is the purest chart. No other chart squares out so beautifully in price and time as the 1-minute YM. Why is that? The ES and NQ both require you to divide ticks into the number of points and requires an extra calculation. The time it takes to do the extra calculation could mean the difference between getting a good risk reward ratio or not. For the Dow YM, each tick is a point.


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That being said, similar principles apply to the other charts in various time frames. Several years ago, I wrote articles and did seminars on advanced Fibonacci methodologies. I probably came up with just about every Fibonacci ratio you can think of. But here’s the problem, there were a lot of legs that did not correspond to the traditional golden spiral of .618, 1.618 and 2.618.

 
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