Thread: Have I drawn these Fibonacci extensions right?

I think I am having trouble drawing this right or not. I am attempting to use these to direct me to where price might go on the rebound of support or resistance. Here are two examples I picked that I drew. Can I draw them ? I fear not.

Only start your fib tool in the stage a swing started, hold drag the curser to the end of the swing, launch curser. Today fib #s will reveal percent of retracement on the full swing just completed.

It looks as if you're utilizing the Fib Expansion (3 factors ) which differs from Fib Extension (2 factors )

Fib Extensions = degrees off of the fib retracement instrument
Fib Expansions = is its own tool with its own degrees. Expansion is mostly used with the 1-2-3 pattern.

Originally Posted by ;

Just launch your fib tool at the stage a swing started, hold drag your curser to the end of the swing, then launch curser. Today fib #s will show percent of retracement on the entire swing just finished. image

1 When I started using the fib instrument, this helped me a lot.
and as has stated, make sure you understand the gap between extensions and expansions

Did a Fast search, hope this helps u