zSph x Larry Waves Wave Zone Forecast

Elliott Waves and Fibonacci Ratio Lengths have a strong correlated relationship when observing the general strength and termination of both Impulse (Motive) Waves and Corrective Waves.

There are certain Fibonacci levels that are highly reactive when applying it from a Wave Analysis perspective and being aware of the current wave sequence is required.

Often, those beginning their Elliott Wave journey and studies are unsure what Fibonacci levels are relevant and how to apply it to the wave structure that is being observed – this tool removes that ambiguity on placement.

Being aware of the predisposed levels that have a high rate of reaction can assist in managing trades from a scalp intra-day approach, a day trading approach, and a swing trading approach.

# Concept

This tool helps with identifying zones that are relevant to the wave that is currently in progression upon the market and visualize important Fibonacci levels where reactions often occur from an Elliott Wave perspective such as:

• Wave 2
  
• Wave 3
  
• Wave 4
  
• Wave 5
  
• Wave B Zigzag
  
• Wave B Flat
  
• Wave X Zigzag
  
• Wave X Flat
  
• Wave C
  
• Wave Y
  

This helps remove almost all the manual labor of updating fib levels, selecting certain fib levels, and manually moving the fib levels as price continues to print while autonomously providing the levels visually.

# Correct Usage

Wave 3 / Wave C / Wave Y

Once a clear impulse/motive structure has been identified for a Wave 1, Wave A or Wave W, apply the indicator to the structure.

1. Anchor 1 is the beginning of the impulse for Wave 1 or A or W.
   
2. Anchor 2 is the end of the impulse for Wave 1 or A or W.
   

The result is the standard zones for Wave 3, Wave C and Wave Y.


LINKUSD


Wave 4

Once a clear impulse/motive structure has been identified for Wave 3, apply the indicator to the structure.

1. Anchor 1 is the beginning of Wave 3 (or the end of Wave 2)
   
2. Anchor 2 is the end of Wave 3 (or the beginning of Wave 4)
   

The result is the standard zone for Wave 4.

LINKUSD


Wave B / Wave X / Wave C / Wave Y

Once a clear 3-wave corrective has been identified for a potential Corrective pattern, apply the indicator to the structure.

1. - Anchor 1 is the end of beginning of Wave A or Wave W
   
2. - Anchor 2 is the end of Wave A or Wave W
   

The result is the standard zones Waves B / X and Waves C / Y for Zigzags, Flats and Combos.

LINKUSD



# Settings

• "Show Labels" will toggle on and off the labels for each fib zone, each fib line, and invalidation ticks that are in the 2/3 – B/C option to help with calculating risk management quickly.
  
  
• "Use Log Scale" will allow you to toggle on/off the log scale for log fibs
  
  
• "Extend Lines" will allow you to extend the fib lines to current price action from the Elliott Wave Zones to see reactions off the fib levels.
  
  
• “Extend Zones” will allow you to extend the overall zone for the fibs to current price action from the Elliott Wave Zones to see reactions off the zone. There is also user customization of color use for the zones/.
  
  
• “Fib Levels” will allow you to customize the lines and colors of the fibs lines.
  
  
• “X-Axis Offset” will increase or decrease the position of the fibs of the zones (not the extension boxes)..