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# Elliot Wave-Fibonacci relationships :

`N. Elliott's analysis of the mathematical properties of waves and patterns eventually led him to conclude that "The`

Fibonacci Summation Series is the basis of The Wave Principle”. Numbers from the Fibonacci sequence surface

repeatedly in Elliott wave structures, including motive waves (1, 3, 5), a single full cycle (5 up, 3 down = 8 waves),

and the completed motive (89 waves) and corrective (55 waves) patterns. Elliott developed his market model before

he realized that it reflects the Fibonacci sequence. “When I discovered The Wave Principle action of market trends,

I had never heard of either the Fibonacci Series or the Pythagorean Diagram”.

The Fibonacci sequence is also closely connected to the Golden ratio (1.618). Practitioners commonly use this ratio

and related ratios to establish support and resistance levels for market waves, namely the price points which help

define the parameters of a trend. that’s is Elliot Wave-Fibonacci relationships

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