Fibonacci extensions

gurunaif · Jan 1, 2005

Hi, I understand the retracements and have found good use for them. I am now wondering about extensions (e.g 161.8%). Does anybody use this and if so how? I only read a loose article where it was mentioned so haven't seen it in the context of a chart.

Many thanks,

Nathan

Salty Gibbon · Jan 1, 2005

I asked my hairdresser about putting in Fibonacci extensions only last week but she confessed to not having come across them.

She promised to check with her colleagues and revert to me.

gurunaif · Jan 1, 2005

Salty Gibbon said:
I asked my hairdresser about putting in Fibonacci extensions only last week but she confessed to not having come across them.

She promised to check with her colleagues and revert to me.

If she doesn't have them then tell her to take the length of you're hair and add another 61.8% (total of 161.8% * original length) and use that as an estimate to where you're hair will be in the future. ;o)

Catch my drift? The first time i'd heard of this was in "Traders Magazine" but unfortunately not much was said about the method, just the results.

Salty Gibbon · Jan 1, 2005

I think my hair is actually retracing in the future.

That is why I asked for the extensions.

A projected 61.8% retracement would therefore require 61.8% hair extensions in order to maintain my current appearance.

GoldenY · Apr 5, 2008

gurunaif said:
Hi, I understand the retracements and have found good use for them. I am now wondering about extensions (e.g 161.8%). Does anybody use this and if so how? I only read a loose article where it was mentioned so haven't seen it in the context of a chart.

Many thanks,

Nathan

I use Fibonacci extensions in conjunction with my own proprietary indicators.

BlackMonday · Apr 26, 2008

Fib extensions can be very useful.

More useful though is to look for confluence, areas where you have 3 or 4 fibs, be they retracements or extensions, meeting together.

forex99 · Apr 26, 2008

Fib extensions are deadly! I use them for taking profits and for entering trades if there's a confluence of support/resistance. Watch the 127% and 162% extension for taking profits.

easwaran · Jul 19, 2008

Salty Gibbon said:
I think my hair is actually retracing in the future.

That is why I asked for the extensions.

A projected 61.8% retracement would therefore require 61.8% hair extensions in order to maintain my current appearance.

my dear friend
nice one, you are revealing the secret so nicely,
thanks for the truth
cheeeeeeeeeeers
easwaran

:clap:

joe4422 · Sep 29, 2009

Just to add a real comment here, I use them all the time for targets. Intraday and swings as well

sinimini · Sep 30, 2009

Fib extensions are awesome. A great guy to learn how to use them is called Andrei Pehar, just google fxknight. Ive met him hes cool guy and you can learn about using fib extensions without subscribing to him, he has some mt4 settings on his, forum do a search. You could youtube him too he has some videos up. They are great and really give you confidence going into a trade when you combine them with other indicators and price action.

Sini.

t2wfx · Dec 23, 2009

sinimini said:
Fib extensions are awesome. A great guy to learn how to use them is called Andrei Pehar, just google fxknight. Ive met him hes cool guy and you can learn about using fib extensions without subscribing to him, he has some mt4 settings on his, forum do a search. You could youtube him too he has some videos up. They are great and really give you confidence going into a trade when you combine them with other indicators and price action.

Sini.

His youtube videos alone are very resourceful... he's one of a few guys on the net with no b.s info when it comes to forex...

bedsit · Dec 23, 2009

Have you checked his correspondence with one of the viewers? It's a video about Fib projections, where he explained how he got into a trade at 61% or so Fib retracement and got out at the extension.
I watched the video and couldn't see price reaching his entry point. I didn't make comment about it, but somebody else did. I can tell you he was so angry at poor guy commenting on it.
I was surprised as I had this opinion about him as a nice guy.

koolblue · May 30, 2010

gurunaif said:
Hi, I understand the retracements and have found good use for them. I am now wondering about extensions (e.g 161.8%). Does anybody use this and if so how? I only read a loose article where it was mentioned so haven't seen it in the context of a chart.

Many thanks,

Nathan

...

Fibonacci extensions

gurunaif

Newbie

Salty Gibbon

Experienced member

gurunaif

Newbie

Salty Gibbon

Experienced member

GoldenY

Newbie

BlackMonday

Member

forex99

Junior member

easwaran

Newbie

joe4422

Junior member

sinimini

Active member

t2wfx

Active member

bedsit

Experienced member

koolblue

Well-known member

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