DislikedJust a query re your charts, mate. I notice you have Targets 1 and 2 indicated amongst your fib readings. Do you use the FE100% and FE161.8% for those? I know that fx1 doesn't use them, as he has his own method of using fibs, which is ok; everybody has their own way of using these things.Ignored
Fischer takes the height of wave 1 and multiplies it by 1.382 and 1.618, then adds it to point 0, to get the target for wave 3. MT4's retracement tool can be used to do this.
Miner on the other hand, takes the height of wave 1, then multiplies it by 1.0, 1.27 and 1.618; then adds it to point 2. MT4's expansion tool can be used to do this. You can fine tune the use of the expansion tool and get more accurate levels by placing the 3rd point of the tool at the Wave 2 point.
What I do is, I use Fischer's wave 3 zone levels. Then I add Miner's 100% level. For example, 50% retracement to 150% level = 100% extension. This isn't very accurate, but you can just mentally add or subtract a couple of points from the level.
Edit: Added another chart combining both methods. (3rd chart below)
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