DislikedCorrect if it had breached the long fib level of the swing, just like with the larger fibs is a sign of reversal even though small it would be a sign to take profit or loss whichever the case is and start shopping for the next bargain or next opportunity,
As far as percentage of successful times it follows the plan and reaches the target, If so i dont really keep stats or anything but i would guess 60% of the time moreso during trending less so when ranging, (the average of the 2) you just have to learn to switch gears so to speak when the market changes conditions.
When you see price break the low or high and it fails to reach the T1 level its the same sign of a slowdown in momentum and possible reversal. The extentions are the same as the levels inside the 0 and 100 levels they are just the levels projected above and below the the swings measured high and low.Price is just moving from one plane to another.Ignored
Thanks!
PipHunter