Resolved Question
Can someone explain to me what is more vital to concentrate on as a newbie, fibonacci or elliott wave ?
i want to start researching for a plan to use and i want to know from experienced people what would be best. thank you.
over 2 years ago
Best Answer - Chosen by Voters
In order to understand Elliott waves, you need to understand Fibonacci first.
over 2 years ago
Answers (3)
You better start with Fibonacci first since it is an important part of Elliot Wave Analysis. If you're a newbie, I suggest to take on BabyPips' School of Pipsology.
over 2 years ago
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Hi, can i know what do mean by vital? Because both fibonacci and elliott wave can be consider as a trading tool to use.
If you're asking about with one of the above to use for your trading strategy, then I would suggest you to find a strategy, that uses these two to aid in your trading. And from there, you explore more of it.
You can go to forums to find trading strategies.
Hope my answer is of help to you.
over 2 years ago
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Personally, I think starting out with fibonacci retracement levels would be better. The reason behind this is that the Elliot wave theory is believed to be made up of tiny little retracements here and there... which are tiny fibonacci retracements here and there. But at the end of the day, why don't you just do two trading plans, maybe one on the demo to test out both systems at once? That way you are more efficient and learn both tools at the same time! Neat huh? Happy learning!
over 2 years ago
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