Fibonacci Pinball is a standardized method identified by Avi Gilburt that has helped him trade waves 3-5 with extraordinary accuracy once waves 1 and 2 are in place.
Strong, trending price move consisting of 5 waves. Waves 1,3 and 5 are impulsive, or motive waves, and move in the direction of the trend. They subdivide into a 5-wave structure, which are designated by numbers. Waves 2 and 4 are corrective -- moving counter to the trend -- and subdivide into 3 waves, which are designated by letters. Some basic rules: Wave 2 never retraces beyond the start of Wave 1; Wave 3 cannot be the shortest of the three impulse waves; Wave 4 does not overlap with the price territory of Wave 1; and Waves 2 and 4 tend to alternate in form. (A sharp move in Wave 2, for example, will suggest a mild move in Wave 4.) Also, sub-waves should exhibit Fibonacci relationships.
These are counter-trend 3 wave structures (labeled A, B, and C) that only retrace a portion of its preceding motive wave. They are more variable than a motive wave, and often do not show the strength that its preceding motive wave had. Corrective waves are often very hard to label while they are playing out, especially in the early stages of them and are often not clear until they are almost over. Wave 2's typically are Zigzags or Flats (VERY rarely triangles), more likely to be a deep, fast correction Wave 4's are the most complex and often shallow flatter corrections (triangles are more likely in 4th waves and B waves).
Here is an End of the Year THANK YOU, Avi and EWT staff! I joined EWT this year in April, and was really despondent in how my retirement plans and trading account had been performing. I have been trading commodities and stocks for 30 years, and could never keep what I would make in the market. Never. Always gave it all back, and then some. The desire of my heart was to trade for a living, and finally, after 30 years, I can see this as a possibility! I switched to a self-directed 401K at work, and started trading a personal account with you all in April. My accounts are up 320% since April thanks to you! Until then, I was looking at possibly not being able to retire for a long time, but not now. I never knew when to get out of a position. I was always wrong. If I hung on it went down. If I closed out the position, it went up. I was ALWAYS wrong...so frustrated. I owe my success all to you, Avi, and EWT, and the EWT members. SO from the bottom of my heart...THANKS so much. I really appreciate you all!! I have tears of happiness because of you all. HAPPY NEW YEAR, and happy trading in 2021. I am really looking forward to it, for once!""Wheat" - Trading Room" - 2020-12-30
What I love about EW is you know when things go wrong and you know when to get out of a position at minimal damage...it has helped so much in my RR work""Kenneth_Aydt" - Trading Room" - 2019-10-03
My AUM has grown exponentially because of you and I can't thank you enough. My biggest regret is not signing up sooner! You've done more good than you will ever know.""AAMilne" - Trading Room" - 2021-03-02
Your team are the best traders & analysts. truly a world class trading site.""MambaMentality" - Trading Room" - 2021-03-04
The relief of EWT philosophy on investing has been such a gift (besides being extremely profitable) that I have to say this is the most enjoyable service offered anywhere on the internet and probably the best investment I have ever made. Thanks Avi.""Talapus" - Trading Room" - 2020-01-27
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Avi et al, this site is amazing! I have been dabbling in trading for several years and recently discovered EWT. With your help (including the great support staff) and all the patrons, my success rate has improved tremendously. I am a conservative trader and rarely more than 60% invested but this year with EWT's help I have increased my trading account by 164% YTD. I am humbled and very grateful for all the members that freely share their insights with the goal of helping others. Thank you all.""tom99577" - Trading Room" - 2020-12-17
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I'm having my best year ever! Up 70%. My thanks is 100% to this site. The analysts and members. My wife thinks I'm a genius because of you guys/gals. Best 3k I spend a year. She wants me to spend more on you!""tightlines" - Trading Room" - 2020-12-17
I have been investing and trading for 25 years and you guys are 'the best' I have ever seen. Great methodologies and great people using them!""saminvests" - Trading Room" - 2021-01-07