About Fibo extension

phildunn · #1 (**permalink**) 03-16-2006, 09:18 PM

Till now I still can't figure out how to draw fibo extension in MT. My problem is how to drag second line to retracement Swing Low/High?

Sorry for my stupid question.

RedJack · #2 (**permalink**) 03-16-2006, 09:24 PM

Quote:

Originally Posted by phildunn

Till now I still can't figure out how to draw fibo extension in MT. My problem is how to drag second line to retracement Swing Low/High?

Sorry for my stupid question.

I am always confused i post some pictures we both can learn fibo extension right?

ok

RedJack · #3 (**permalink**) 03-16-2006, 09:36 PM

Ok i have attached a pic where as you can see a movement from 1 - 2

now we need point [3] or a retracement where we expect market to stop and continue in the same direction as 1-2

please take a look i create another chart where i will attach Fibo Extension and some more description

Jack

RedJack · #4 (**permalink**) 03-16-2006, 09:38 PM

Quote:

Originally Posted by phildunn

Till now I still can't figure out how to draw fibo extension in MT. My problem is how to drag second line to retracement Swing Low/High?

Sorry for my stupid question.

take a look mabe it will help

keris2112 · #5 (**permalink**) 03-16-2006, 09:41 PM

Quote:

Originally Posted by phildunn

Till now I still can't figure out how to draw fibo extension in MT. My problem is how to drag second line to retracement Swing Low/High?

Sorry for my stupid question.

Follow the pictures that I've posted.

Start drawing your FibExtension like you would with regular fibs. This will get you a V. (fib ext 1.gif)
Double-click the V to select/highlight it. (fib ext 2.gif)
Drag the end of the second handle of the V to the end of your retractment. (fib ext 3.gif)

That's it. Hope that helps.

Keris