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fibonacci extensions
Fibonacci Extensions Definition and Levels What are Fibonacci Extensions? Fibonacci extensions are a tool that traders can use to establish profit targets or estimate how far a price may travel after a retracement/pullback is finished. Extension levels are also possible areas where the price may reverse. Extensions are drawn on a chart, marking price levels of possible importance. These levels are based on Fibonacci ratios (as percentages) and the size of the price move the indicator is being applied to. The Formula For Fibonacci Extensions Fibonacci extensions don't have a formula. When the indicator is applied to a chart the trader chooses three points. Once the three points are chosen, the lines are drawn at percentages of that move. The first point chosen is the start of a move, the second point is the end of a move, and the third point is the end of the retracement against that move. The extensions then help project where the price could go next. How to Calculate Fibonacci Ret...
