So... I spent the past 3-4 years analyzing the markets and fib levels thoroughly... I created a formula for the fibs we used on the regular and applied it to them and discovered the following fibs:
Here is the list of additional fibs I have added to my tool box: .118, .309, .441, .559, .6625, .7465, .836, .943, 1.136, 1.445, 1.809, 2.309, 3.445 (The Bold fibs are also used as CD projections).
I did so after noticing the price continued to fail on certain patterns by closing bellow the original convergence zone but always seemed to move as a fake out in certain pairs and instances.
All in all.. the results have been tested.. they work best on pairs with huge volatility. In addition, you can work with just these fibs instead of the standard ones and still find patterns that have completed and developed good with them starting from the 90s.
Also please note the two following fibs as KEY in any trading style that you are using that use the "Legacy" fibs.
A) 1.136 <= this fib tends to confirm whether a 100% CD point is legitimate or not after a closing bellow the 100% fib zone. The pip difference between the two is minimal and increments as with all else with the time frame it is viewed in. Taking a trade inbetween the 100% CD and 113.6% CD seems to be the best for yen pairs.
B) 3.445 <= This fib is a calculated extension to the 2.618 and has worked flawlessly in predicting key market trend reversals and continuations within the market. This by far has become my favored fib to use because of this case and the majority of my trades will be based off it. A break or respect of this fib point tends to indicate a movement similar to the XA measured in the corresponding direction.
In addition, the .118 Fib tends to signal the continuation or reversal of a trend. I do not use this fib for entering patterns. But it helps determine whether the market is creating a true swing or continuing... I will elaborate on this more thoroughly throughout the year as you see me progress within our trades.
I suggest that you download the fxcm app and play around with these fibs replacing all the old ones so you can see with your eyes the levels that are respected in the different markets.
Again remember, these fibs are basically the 50% zone in between the following fibs: .236, .382, .5, .618, .786, .886, 1.272, 1.618 2.0, 2.618