Joined Aug 2006
Status: High Achiever
Hi Taters. My dilema is this. Look at the picture, price retraced to the 50% level and now is going up right? I am looking for a FIB indicator that gives me the projected target of a 50% retracement (in this case).
Add .786, .86, 1.18, 1.27 and 1.618 to your fib properties. First spread your fibs lower to higher in an uptrend as you would normally (opposite in down trend) then reverse and spread again, but this time higher to lower.
Fib retracement of .382, .50, .618 have targets of 1.618.
Fib retracement of .786 has a target of 1.27
Fib retracement of .86 has a target of 1.18