This week the AUS200 which I trade, moved down from 5877 high volume node to the 161.80% extension. I have found that the extensions are very good for a move out of balance to a new balance area or a rotation. The three extended fibs that is the 127.20%, 161.80% and a further extension to 261.80% features quite often in moves. Moreover the moves also concur with the low volume node which has been support for an earlier balance bottom.
This is clearly demonstrated on the SPX500. The market moved down to the 261.80 % extension and they moved up to the 127.20% fib also tested the 161.80%.
I had sixteen trades this week two were closed for no loss four loss trades and 10 trades that were successful.
The zones are plotted off the fibs and the profile of the larger time frame charts before the markets opens and this is how it panned out today
The 30 min chart shows both fibs the extension the purple lines and the retracements which are marked.