I have read some articles and tried to calculate the simple fibonacci retracement and fibonaccci extension. Some website also provide fibonacci calculator. But I cannot come to same result as the website calculation result nor as what I have made in MT4 using the fibonacci extension menu (e.g. in uptrend which includes point A=swing low, B= swing high, and C=retracement of AB.
Please advise how to calculate the fibonacci extension which includes this ABC in it, as also used in MT4. thank you very much.
I do not use MT4, and mostly focus on Gann retracements, same idea just different percentages.
…that said, what variance are you getting in your calculations compared to MT4?
Basically, if A is at 100 and the market goes up to B at 200, you have a range of 100. If the market pulls back “50%” (of AB), then C should be at 150, and an anticipated 100% extension would take you to a hypothetical or projected D of 250.
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