How do I measure Fibonacci ratios between two waves on a logarithmic chart?
The "magic" of logarithmic (log) charts is that the ratios are built into their design. On arithmetic charts, the distance between 100 and 200 is 1/10th the distance between 1000 and 2000. But, on a log chart, the distance between 100 and 200 is the same as the distance from 1000 to 2000 (because 200 is 2x's 100 and 2000 is 2x's 1000).
As a result, when measuring distances on a log chart, to find true Fibonacci relationships, you only need a proportional divider set to .618. Then you can simply measure physical distances on the chart to get your Fibonacci relationships instead of having to use a calculator to figure them out. I use a Golden Mean (Fibonacci) Proportional Divider. I use it all the time right on my TradeStation computer screen to discover relationships within patterns.
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