Fib Extensions

[pinebear]

I have tried the fib extension drawing tool and the Fib retracement tool in Ninja and I can't seem to get the extension 127 and the 161 etension on the chart. Any help would be appreciated.
Thanks

[david_R]

Fib extensions

The way i do fix extensions is to use the retracement tool. That is a tool that you use two points to create the fib levels. the 127.2 is a retracement greater than 100%. The extension tool which is a 3 point tool I call a projection tool. The reason I call it a projection tool is because the first two points measures the swing and then the third point projects the distances from the third point. For example. If you want from A to B and projected from point C when price reached 100% it would be equal to AB. I hope I'm not confusing you. Anyway, draw the fibs with either tool you want and then click the line that follows the swing you measured and right click. Under Fib retracement or extension properies click and add the 127.2 or whatever level you want. You need to check the active box as well.

by the way, check out Fibonacciqueen.com. I think there are some free videos that explains retracements, extensions and projections and how she does them.