It's true that the Fibonacci sequence is tightly connected to what's now known as the golden ratio, phi, an irrational number that has a great deal of its own dubious lore. The ratio of successive ...

Here is a great recent example ... I could expect a three-wave corrective pattern down. My ducks had lined up! It was tempting to short it shy of the Fibonacci level, but patience paid off.

At the wave 5 low, the selling had been overdone and the market started a normal relief rally. First, it has an A-B-C form with wA equal in height to wC. This is a typical Fibonacci wave ...