fibo retracement % accurate?

[frankduc]

Hello,

On chart i trace a fibo line 100% 2674.19, 0.00% 2663.37. the fib line return 2.62% 2691.71

If i calculate 2674.19-2663.37 = 10.82 *2.62 = 28.3484 + 2674.19

= 2702.5384 and not 2691.71

Did i do something wrong?

Frank
ty

[eDanny]

2674.19-2663.37 = 10.82 *.0262 = .283484 + 2663.37 = 2663.65
If 0 = 2663.37 you would add the 2.62% of the range to it.
If it was to be a retracement of 2.62% you would subtract: 2674.19 - .283484
If it is to be an extension add to the 100% price: 2674.19 + .283484

[NinjaTrader_PatrickH]

Hello Frank,

Thank you for your post.

eDanny is correct here. You would take the Value of 2.62 and divide it by 100 to get the value to multiply by the price range.

Please let me know if you have any questions.