Fibonacci Trading: When to move the end of the fib?

Hi,

I trade a method that uses Fibonacci however I don't know many people who trade Fibonacci so I thought I would ask a question that has been rumbling around my head for sometime here.

I have included 2 charts that hopefully explains what I am asking.

In the 1st chart I've drawn a fib on a move I like.


In the 2nd chart is where my question lies. Price breaks below the bottom of my original fib then decides to break back up inside the original
fib again. Does anyone have some constructive thoughts on whether or not they would move the fib end down to the new low or would they leave
the fib end in the original position.



I'd humbly appreciate any constructive thoughts.

I sincerely recommend that you have a look at eminiaddict.com of which I've been a member for over 5 years.

The fib method taught there is definitive and precise.

That being said... there are some fibs where you use the same original anchor and pull to a new low or high as you're asking, and there are others where you move the anchor (top and bottom) of the pull. There are very specific rules as to which is the appropriate method.

It's also important to be able to recognize when a pullback is a trend failure and when it is not.

Excellent. I really appreciate you taking the time to post.

I will take a look at the site you recommended.

Cheers.

Sunny in your second example - you would move your starting point form the top, down to next pivot that the current price can see.