DislikedWell, it is not the span that matters but the Low to High & Low that gives a fibo projection of where price will reach and when it will breakout.
I just entered the Low and High in a fibo calculator and it gives the very same breakout area. This is also a form of wave analysis in a sense.
have you never used this tool in MT4?
you can apply it at any major high lo high or low high low to give us a rough area for breakouts and tp. Here it is applied at major turns yesterday but you can see the areas still hold as S&R today.
it is just another...Ignored
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