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Trading the Jam way

  #116 (permalink)

Juno Beach
 
Trading Experience: Advanced
Platform: Ninja and TS
Broker/Data: Optimus Futures / Matt
Favorite Futures: multiple
 
JamTheTrader's Avatar
 
Posts: 135 since Sep 2009

Fibonacci Extentions

A Fibonacci Extension is very similar to a retracement in that it retraces the previous move but, more than 100%

The most common extensions are;
  • 127.2%
  • 161.8%
  • 261.8%

In the diagram below, you can see that we retrace well beyond the standard 38.2, 50 and 61.8% retracements and into the extensions.

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Last edited by JamTheTrader; January 15th, 2012 at 07:18 AM. Reason: Title
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