I am at the stage in pipsology where i’m learning about harmonic patterns. I must of missed something about Fibonacci extensions. I am reeeally gettting frustrated as i do not get it at all. This ABCD pattern ??. i have used Fibonacci extension tool in meta4 to try and work out where this 1.272 measurement is !!! but all i can see is 161.8,100.0,61.8 and a diagonal line that has no angle or ratio displayed in relation to it. and with a combination of the fibbonacci retrenchment tool, it clashes with 0.0,23.6,38.2,50.0,61.8,100.0,161.8 and my chart is just a mess! … I really need someone to teach me how to use this tool in combination with the retracement tool to find a abcd pattern. I have been looking all over the internet but it seems i am the only one missing something here.
Open the fib retracement tool (not the expansion tool) if you want entensions.
Create a fib, right click anywhere on the chart, choose ‘Objects List’ - on that drop down list that opens you will find the fib that you have on the chart (use a nice clean chart to get used to it)
Double click the fib in the object list - now you have control over all levels including retracement levels and extension levels.
Note how MT4 has Level at 0.5 and descript of 50% for the 50 retrc fib, so if you ADD a new level with LEVEL at 1.5 and descry with say’My own 50% EXTENSION’ - then up it comes 
Mind you maybe that’s not what you are actually looking for.
Also in MT4, once you have the fib on the chart, double click and in the detail box where is says for example 0.0 you can replace it with 0.0%$ - This will not only show 0.0 on the chart, but also the corresponding price which agrees with the fib level in question. Could be some use to you.
Funny thing is that it has been shown in a research (google it) that the fib lines (retracement, expansion, time period or other) has absolute no correlation with the key reversal points in the price action.Sad to say this but it has been statistically proven that the fibonacci tool is a crap hocus-pocus nonsense.The market does not move accordingly to the golden ration, and more funny is that the fib numbers are wodoo even in the reality.It is just a number that is used in arts and architecture,and it looks good if you build stuff in that ratios.But other that that it has no esoteric or magical powers, and nor can predict price movements.It is just made up stuff so that some people can sell their books.
Since i found those researches i neither use any fib tool in my systems.But before than i was too a fib admirer just like you guys.Sadly found out that it does not work, so better learn basic price action charting and stop wasting time with such vodoo stuff.
So from reading other threads iv found that MT4 call extension, expansion. So I have added in the 1.272 percentage with te expansion tool… However according to ABCD pattern rule AB and CD should be around the same length … but as you can see here … if D has to end around 1.272 mark then CD is a lot longer the AB… help ?? 
Here’s how I do it:
Price travels A to B, then I have witnessed a retracement , pull fib RETRACEMENT tool from A to B - watch does it retrace to say the 61.8 fib level, then it turns again (at C) — now I’m in and setting a target.
(A to B and B to C have thus been completed)
I have ADDED a level to the Fib RETRACEMENT tool : Level…[B] -1[/B] (i.e. minus 1)
This level has the description added by me of… [B]%$ 100 EXTENSION[/B]
If I’m feeling really greedy then I can ADD a Level of -2 which will give me the 200% Extension level.
No time have I used the Fib Expansion tool.
You can substitute say minus .382 to get the 100 extn of for C to D etc.
Here is a AB CD pattern in the oven at present. It is Fibre H4 at today.
The fib settings are std except for the minus .382 (100 Extn)
The 2 red diagonal lines are equal length (283 pips), a quick way is to just draw the diagonal line, lift it by dbl clicking and set it on C - gives you D in an instant.
Grrr… some reason I cannot upload the image, anyhow, Fib retrace H4 low Nov 5th 3294 to high 3578, price retraced to the 62 fib, classic set up for ab cd pattern.
The -.382 fib gives projected TP of D at 3686 - try it an see
Ok so i think i am kinda getting it now. I have extended my fib tool … can i just do A to B then see if the retracment goes to 62 then watch and see if C goes to 1.272 to make it a ABCD pattern. obviously my screen shot shows that its failed to form one but can i seek them out using it like this …? expansion tool seems to be different and starts the fib ratio at the end of C. i still dont get how AB can possibly be the same size as CD if it has to be formed in the around the same time. AB is 100%. CD is 65% ?? Am i missing a possible way it could match sizes?? thanks for help so far 
Yep, forget the expansion tool for now.
The pattern that I spoke of yesterday on h4 fibre that is live headed on up to target of 3886 being D.
I’m not into patterns, I like to think of the reasoning behind the move, the why of the pattern.
On the h4 fibre I think of it like this:-
Those that can move the market had buy orders sitting at 3300 which kicked in on Nov 7th, at the busiest time of the day.
Nothing special about that, I look at 1 hr, nothing special until one week later and clear signs of higher lows, more buying.
I become aware of the starting point of buying - (point A), buying continues until Nov 19, then a fall - the fall is important, if it goes below point A then it is selling, if it falls to just a cheaper price, then the now cheaper price is continuing to be bought.
A fib from point A (3294) to the recent high Nov 19 (3579) tells me it fell to 62 fib - classic sign that more buying to come, price was just lowered to make it cheaper.
I suspect that those who move the market often average into large positions (except for the need to facilitate a specific transaction) -I’m keen to estimate their actual cost - their averaged in cost, I figure the 62 roughly shows their actual cost.
Now price had become too expensive (point B), it’s now back to the averaged cost (point C), so more averaging in.
How much more? - well if they were prepared to buy whilst price moved from A to B, and if nothing fundamental has changed, then surely they would be prepared to buy the same movement again i.e. from C to D.
Sorry, still cannot get img to upload, but very clear if you diy on current fibre h4 (btw moved up a further 80 pips towards D since last night’s post, the oven is getting hotter :))
cool this is neat.
Next item on the agenda, what now to do at point D - ( today.)
Many try to trade C to D and perhaps catch a portion of that move up, often at the 38 fib (same fib left on as above), that was at 3470-80, see on the 4 hr the ‘clutch’ of candles - more averaging in, time to join- then they exit near D.
Today’s NFP will dictate what happens now at D - there may be profits to be had.
Some say that the S&P can be an indicator for the NFP, a much weaker S&P indicates a bad NFP - cannot say that about this past month’s S&P for sure.
A short time ago a strong NFP often meant ‘risk on’ and up would go Fibre, now the reverse may happen, strong numbers - increased likelihood of tapering = strong USD.
Lots of people advocate staying on the sidelines during NFP and trading after the release.
Remember - all just a person’s opinion.
Hello Bryocon, i think we have a similar problem. i have heard of that ABCD you’re looking for from the MTI or Market Traders Institute, it was well presented there in the webinar but the problem is how the fib extention will be initiated. what was explained in that webinar was showing both the retracement and extention to enter and exit for profit respectively. if anybody out there could share their ideas since i am not using the MT4 but the downloadable trading platform of FXCM with regards to the fib retracement and extension in one graph.
Hi Dennis,
Welcome to BabyPips
Here are a couple of examples showing how I use both Fibonacci retracements and Fibonacci extensions as key levels to enter and exit trades:
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[li]Japanese Yen Likely to Continue Lower for this Reason
[/li][li]British Pound Finds New Role as Haven During Emerging Market Turmoil
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Jason
yes jason, but my question is how to access the fib extention on the fxcm trading platform
Hi Dennis,
You can access Fibonacci extensions on Trading Station in the same way you access Fibonacci retracements:
First, right click on the charts and in the menu that pops up go to Chart Elements > Add Fibonacci Retracement
Then in the Add Fibonacci Retracement window that pops up, you can select which retracement and extension levels you want to see. The extensions are the negative numbers.
