When to Use Fibonacci Channel Projections Breakouts from Flags/Pennants or Accumulation at Bottom Ranges E.g Hester Bio Click the Low here 1410 and then the High 1954.55 for the Fibonacci Extension Values of the Channel to appear equivalent to 61.8%,100%,161.8%, 261.8%
Simplest of All Targets are arrived by Fibonacci Channel Projections
Common Mistakes in Use of Tool Fibonacci Retracement. Eg: Hitech Gears Retracement for Rise Rise from Low 330.00 to High of 602.75 then, 1st. point to click is Low n 2nd. at high for retracement values in the direction of retracement (here dn) @ 38.2%, 50%, 61.8% 78.6% as shown.
Retracement for Fall. Fall from High 602.75 to Low of 388 then, 1st. point to click is High n 2nd. at Low for which you need retracement values in the direction of retracement (here up) with values unfolding of 38.2%, 50%, 61.8% 78.6% as shown.
Fibonacci Usage for targets calculation
A good source of reference is available at https://fibotrading.net/fibonacci-trading/fibonacci-projections/
