This document is from Elliott Wave International and discusses using Fibonacci relationships to identify turning points in markets. It provides examples analyzing trends in cocoa prices, Starbucks stock, and the Euro/USD exchange rate. For each example, it identifies Fibonacci price and time clusters that can indicate potential support, resistance and reversal areas.

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Wayne Gorman
How You Can Identify Turning Points Using Fibonacci
Part 2: How To Use Fibonacci Relationships
To Set Trading Strategy

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How You Can Identify Turning Points
Using Fibonacci
Part 2: How To Use Fibonacci Relationships
To Set Trading Strategy
• Cocoa
• Starbucks Corporation
• Euro/USD FX

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How You Can Identify Turning Points
Using Fibonacci
Part 2: How To Use Fibonacci Relationships
To Set Trading Strategy
Cocoa

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Fibonacci Price Cluster:
(2) retraces .618 of (1) at 876
C = A at 856
C
(2)

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Fibonacci Price Cluster:
(2) retraces .618 of (1) at 876
C = A at 856
0 of C = .618 x (6 8) at 869
End of 9 of C forms GS .382/.618, if 0 ends at 824
0
C
(2)

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Fibonacci Time Cluster:
End of 8 of C forms GS .382/.618, if 0 ends on 07/10/01
In C, .382 x (6 8), from end of 9 = 07/09/01 for end of 0
In C, .618 x (6 8), from end of 9 = 07/13/01 for end of 0
0
C
(2)

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Closed at 867
Profit = 209

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Closed at 867
Profit = 209

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How You Can Identify Turning Points
Using Fibonacci
Part 2: How To Use Fibonacci Relationships
To Set Trading Strategy
Starbucks Corporation

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0 5 (5)
Fibonacci Price Cluster:
0 of 5 = .382 x (6 8) at
40.34
End of 9 of 5 forms GS
.382/.618, if 0 ends at 40.86
5 of (5) = .618 x (1 3) at 39.59

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5 (5)
Alternate Time Target
Fibonacci Time Cluster:
End of 3 forms GS .618/.382, if 5 ends on
week ending 12/22/06
5 = .382 x (1 3), if 5 ends on week
ending 12/29/06
89 weeks for 1 5 = week ending 01/05/07

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Fibonacci Price Cluster:
9 retraces .382 of 8 at 35.63
(y) = (w) at 36.22

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0 5 (5)

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(5)

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How You Can Identify Turning Points
Using Fibonacci
Part 2: How To Use Fibonacci Relationships
To Set Trading Strategy
Euro/USD FX

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Fibonacci Price Cluster:
iv retraces .382 of iii at 1.4523
C of iv = 1.618 x A at 1.4541
(5) of C = .382 x ((1) (3))
at 1.4521

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v (v) 8
Fibonacci Price Cluster:
v = .618 x (i iii), at 1.4977
(v) = (i) (iii) at 1.4965
End of iv forms .50/.50 split of
(v), if v ends at 1.5023
End of (iii) forms GS .382/.618
of 8, if (v) ends at 1.4878

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v (v) 8
Fibonacci Time Cluster:
End of iii forms GS .618/.382, if
v ends on 11/30/07
v = .382 x (i iii), if v ends on
11/26/07
11/26/07 = 34 days for i v
End of (iv) forms .50/.50 split
of 8, if (v) ends on 11/29/07

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