The ewt pattern is often said to be like three steps, Finance Basics

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The ewt pattern is often said to be like three steps

a. The EWT pattern is often said to be like "three steps forward and two steps back." Explain this phrase as it relates to EWT.

b. Explain what a Fibonacci number is.

c. Explain the difference between a zigzag and a flat in EWT.

d. Choose any two numbers, and go through the method shown in Box 20.1 to demonstrate how you will arrive at the golden ratio.

e. Explain why using EWT can be difficult for the average analyst.

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