Loading ...Forking Megaphone Pattern
Found this Stock Fork chart on another site showing the Fork channel out of the 1929 Crash and the price channel into today. What I find interesting is that the Triangle or Megaphone pattern he has starting in 2000 intersects right at the bottom Fork.
Make you go Hmmmm…
I asked the Poster about his EW Fib calculations and this was his response:
“I also use fib cycles along with fib ratios, for example:
1. top at 1929 was 388, you multiply 388 x 2.618 and you get 1016 which is the 1966 high or close to it.
2. multiply top of 1966 – 1016 x 2.618 and you get 2661 which is close to the 1987 high.
3. multiply top of 1987 – 2661 x 4.24 and you get 11,282 which is close to the 2000 high
4 top of 200 – multiply 11,282 x 1,618 and you get 18,255 which is close to the 2015 high
fib time for present correction should be 16 years to correct 34 years from 2000 -2016 to correct the previous climb of 1929 – 2000 – 71 years x .236 gives 16.9 years so from 2000 to 217 is the corrective period which may in fact be an expanding triangle.”