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Paddy_VA

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Subject : RE: Fibonacci Extensions
Posted : 11/11/2011 6:25 PM
Post #25215 - In reply to #18192

I have noticed for a long time that the VT and OT Fibonacci drawings percentage labels don't seem correct. Attached is an example, showing the S, M and L Fibonacci retracement lines on the RHS, and then two Fib drawings over the same ranges.

Why is the long drawing showing 221.26% at the top of the range, instead of 100%?

Why is the short and medium drawing showing 81.80% at the top of the range instead of 100%?

Also, one of the techniques for forecasting future price moves is to extend the Fib drawings beyond 100%. There doesn't seem to be a way to do this with VT or OT, except as illustrated in the inserted picture from the previous post by Chen, where the 50% line is set at the current 100% level.

Am I missing something, or is there a problem with calculation of these level labels?
Attached file : Strange Fibonacci Drawings in VTOT.pdf (238KB - 592 downloads)

Deleting message 25215 : RE: Fibonacci Extensions


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