try to answer your question. First of all, I do not know, how you calculated your line. There is some resistance at 1.6682, but this would be the October 23 High. Can't see any other Fibline around there. Please advise.
My analysis can be seen in the chart below (made with my favourite indicator, lol).
Back to the indicator. Its architecture is limited, so it cannot do everything. It does reliably identify retracements, extensions of those retracements and swing highs and lows, but it cannot identify expansions and alternate projections. Expansion would be a 3rd or 5th wave measured from the start of the 1st wave. An alternate projection would be the vertical size of the first wave added to the end of the second retracing wave. Both expansions and alternates would - unlike retracements and extensions - continue the original move.
Settings of the indicator: Your indicator only shows short term retracements Y and Z levels. Either you selected this on purpose, or your chart lookback period is too short. For a 60 minute chart, I would rather use the A to E level retracements. NT allows for merging futures contracts, which you need to do, if you want to have a longer lookback period.
So I set up the chart with the FibTool the way I would suggest to do, just to show the difference. My chart uses a contract merged from 6B 03-10, 6B 12-09 and 6B 09-09. The important areas are the confluence zones where you find a bunch of lines.
Also, please use the latest updated version of the indicator which you will find in the download section of this forum.
To answer your question, the multiple fib on your chart is indeed created by the new high, so it is not supposed to appear before the high was made!
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