Fibonacci Numbers and Ratios

How to Use the Fibonacci Extension Tool to Find Trading Profit Targets

BREAKING DOWN 'Fibonacci Extensions'.

In an uptrend, the general idea is to take profits on a long trade at a Fibonacci Price Extension Level. You determine the Fibonacci extension levels by . This article looks at how fibonacci extensions are calculated and how they can be used by forex traders. This is a follow up to How to Calculate and use Fibonacci Retracements in Forex Trading. The first section looks at the Fibonacci sequence and how the extension levels are calculated.

What are Fibonacci Extensions and why do Traders Use Them?

Fibonacci Levels Will: It will show you the most likely retracement levels for you to buy or sell from. It will give you very accurate price targets from the swing highs and lows (Fibonacci Extensions). It will give you very accurate price targets using the swing high, swing low, and first pullback area (DiNapoli Style Fibonacci Extensions). More.

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Conclusion: Fibonaccis are multifunctional

These are commonly used Fibonacci extension levels:

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Take a look at this example. First, there is no way to know which exact Fibonacci extension level will provide resistance.

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