![]() The most frequent Fibonacci extensions levels are 423.6%, 261.8%, and 161.8%. Fibonacci Extension trading: How does it work? The extension levels just serve to emphasize the significance of a level, not to indicate that the price will necessarily turn around at this time. However, just like with Fibonacci retracement levels, you must apply the Fibonacci extension levels in combination with your present working technique. They are a fantastic tool for predicting their overall bias for a bullish or bearish trend. ![]() Simply put, Fibonacci extension levels are the critical points from which the price of a specific stock, currency pair, or commodity may change.įibonacci extension levels help traders in locating and validating key regions of support and resistance as well as potential trend reversal points. ![]() Fibonacci extension levels are quite helpful in understanding market reversals and potential resistances. ![]()
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