For example, after a downtrend, a reversal might be expected at a significant Fibonacci Time Extension line. Finally, drag your cursor back down and click on any of the retracement levels.įibonacci Time Extensions are used to predict periods of price change (i.e. First, click on a significant Swing Low, then drag your cursor and click on the most recent Swing High. You determine the Fibonacci extension levels by using three mouse clicks. How do you use Fibonacci retracement extension? In other words, Fibonacci retracements measure the pullbacks within a trend, while Fibonacci extensions measure the impulse waves in the direction of the trend. While extensions show where the price will go following a retracement, Fibonacci retracement levels indicate how deep a retracement could be. What is the difference between Fibonacci extension and retracement?
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