So i’m gliding through the school of Pipsology and came across this lesson.
https://www.babypips.com/learn/forex/fibonacci-extensions
For the FIbonacci retracement on uptrend and downtrend, i easily understood and was able to apply/use it.
But for the extension it is talking (the three clicks thing), is it talking about Fibonacci expansion?
Cause it what i see in the picture illustrations, although it doesn’t mention expansion in the course, only extension
Here’s the quote
"You determine the Fibonacci extension levels by using three mouse clicks.
First, click on a significant Swing Low, then drag your cursor and click on the most recent Swing High. Finally, drag your cursor back down and click on any of the retracement levels."
And the image link below
Image link.
https://bpcdn.co/images/2016/05/grade3-fibonacci-extension-uptrend-end.png
I’m talking about the v shaped lines at point 1.0132 , 1.0899 and 1.0435
I’m sorry if it’s a noobish question although it might be something simple but it’s really bugging me.
Thanks
Migilos:
So i’m gliding through the school of Pipsology and came across this lesson.
babypips.com
Fibonacci Extensions | Know When to Take Profit in Forex
Improve your forex trading by learning how to use Fibonacci extensions to know when to take profit.
For the FIbonacci retracement on uptrend and downtrend, i easily understood and was able to apply/use it.
But for the extension it is talking (the three clicks thing), is it talking about Fibonacci expansion?
Cause it what i see in the picture illustrations, although it doesn’t mention expansion in the course, only extension
Here’s the quote
"You determine the Fibonacci extension levels by using three mouse clicks.
First, click on a significant Swing Low, then drag your cursor and click on the most recent Swing High. Finally, drag your cursor back down and click on any of the retracement levels."
And the image link below
Image link.
I’m talking about the v shaped lines at point 1.0132, 1.0899 and 1.0435
I’m sorry if it’s a noobish question although it might be something simple but it’s really bugging me.
Thanks
I’m sorry, even I am not that experienced, I just wanted to ask if the lessons are worth it?
It’s a measuring tool use it how it works best for you mate.
or read up more on fibo.
from point X to point Y and see where Z ends up…? if its flying down past 50% line or is it skipping around 25% of it…
look at Gartley patterns for practice…
Yes a[ll lessons are worth it, but you need to practice on a demo account, just reading is not enough.