I'm sorry, but I am totally not agree with your use of the fibonnacci expansions. ( I will be seen as a critic person with my first post and this one but I can assure you it's not my purpose !!! )
For my understanding of fibonnacci expansion ( I could be wrong ... ) It have 3 points or parametres to place on the graph :
. One at the bottom of the move
. One a the top of the move
Two same points like for the Fibonnacci Retracement ( You did well this two points )
. And the third point at the top or bottom ( depending on the direction of the impulsive wave ) of the retracement ( top for descending impulsive wave, bottom for ascending impulsive wave )
The purpose of the fibonnacci expansion is for the well known formation AB = CD, so the 100% expansion spot is the most important corrresponding at this famous formation. But the 61.8 and 161.8 are very important too as they are the variation of this formation.
( You would find a very good thread on the system forum named A,B,C,D 1,2,3,4 something like that ... for the trading of this formation )
I've not seen you place the third point as you have to. I could be wrong but I think your example is a little bit no sense am I wrong ?
So it's possible I'm totally wrong as I've learn all this stuff by myself and my own experience. Correct me if it's the case.
PS: Sorry for my english
For my understanding of fibonnacci expansion ( I could be wrong ... ) It have 3 points or parametres to place on the graph :
. One at the bottom of the move
. One a the top of the move
Two same points like for the Fibonnacci Retracement ( You did well this two points )
. And the third point at the top or bottom ( depending on the direction of the impulsive wave ) of the retracement ( top for descending impulsive wave, bottom for ascending impulsive wave )
The purpose of the fibonnacci expansion is for the well known formation AB = CD, so the 100% expansion spot is the most important corrresponding at this famous formation. But the 61.8 and 161.8 are very important too as they are the variation of this formation.
( You would find a very good thread on the system forum named A,B,C,D 1,2,3,4 something like that ... for the trading of this formation )
I've not seen you place the third point as you have to. I could be wrong but I think your example is a little bit no sense am I wrong ?
So it's possible I'm totally wrong as I've learn all this stuff by myself and my own experience. Correct me if it's the case.
PS: Sorry for my english