Hey everybody,
I was wondering if the 100.0 level should be on the top or bottom when I am using the fibonacci retracement?
Is there a general rule that tells you where 100.0 should be?
Thanks,
Brandon
Hey everybody,
I was wondering if the 100.0 level should be on the top or bottom when I am using the fibonacci retracement?
Is there a general rule that tells you where 100.0 should be?
Thanks,
Brandon
Hi Brandon,
Generally, the 0% should be the “To” placement whichever way you draw it. So if you are measuring from a low point up “to” a high point, the 0% will be on top. If you are measuring from a high point down “to” a low point, then the 0% will be on the bottom. The “from” point should be 100%. Then you can measure the retracement between the from and to points.
Hope that helps
The “from” point should be 100%? I think you made a mistake there. The “from” point should be 0, remember you are measuring the percentage retrace from 0 to 100.
The chart below showing a retrace “from” 0 to the 61.8.
lol cadar is right here sweetpip think you need to retake babypips school of pipsolagy lol just in case you forgot
cadar, you drew your fib just as SweetPip described how to do it.
You drew it [B][I]FROM[/I][/B] the high (100.0%), [B][I]TO[/I][/B] the low (0.0%), and then price retraced [B][I]TO[/I][/B] the 61% line, [B][I]FROM[/I][/B] the 0.
You all is sayin’ the same thing:D
lol master tang guess I should learn to read before replying to threads
She dint forget nuttin’…
Go back and read her post. The original question was how to CONSTRUCT fibs, not how to read the retracements.
She’s in perfect agreement with the lesson.
Nope, no mistake here.
When you draw the fibs, first you draw/measure the initial swing…“from” being 100, “to” being 0. Then the retrace of that swing is from 0…but that’s not what Brandon asked.
I get the confusion here, but SP is bang on, it’s a retracement, so if you have a 0% retracement you are at the ‘to’ point. However you will be retracing from the ‘to’ point,
haha dont argue with the old timers, they dont make such mistakes!
hey sweet pip, master tang and purplepatch. long time eh, hows trading?
i am testing this is atest