Fibonacci extension
E569774
A Fibonacci extension is a technical analysis tool that projects potential future price targets beyond a prior swing using Fibonacci-based percentage levels, often applied within Elliott Wave theory.
Statements (46)
| Predicate | Object |
|---|---|
| instanceOf |
Fibonacci-based price projection
ⓘ
technical analysis tool ⓘ |
| appliesTo |
price swings
ⓘ
trending markets ⓘ |
| assistsWith |
estimating wave termination points
ⓘ
setting profit targets ⓘ |
| assumption | past price swings can inform future price targets ⓘ |
| basedOn |
Fibonacci ratios
ⓘ
Fibonacci sequence ⓘ |
| calculatedFrom |
difference between swing high and swing low
ⓘ
prior price swing high ⓘ prior price swing low ⓘ |
| canBeAppliedTo |
cryptocurrencies
ⓘ
forex ⓘ futures ⓘ stocks ⓘ |
| category |
charting technique
ⓘ
price projection method ⓘ |
| marketAssumption | price movements exhibit Fibonacci-related proportions ⓘ |
| purpose |
identify possible resistance levels
ⓘ
identify possible support levels ⓘ project potential future price targets ⓘ |
| relatedConcept |
Elliott Wave extensions
NERFINISHED
ⓘ
Fibonacci projection ⓘ Fibonacci retracement levels ⓘ |
| timeframe |
daily charts
ⓘ
intraday charts ⓘ monthly charts ⓘ weekly charts ⓘ |
| typicalLevel |
100%
ⓘ
127.2% ⓘ 138.2% ⓘ 161.8% ⓘ 200% ⓘ 261.8% ⓘ 61.8% ⓘ |
| usedBy |
technical analysts
ⓘ
traders ⓘ |
| usedIn |
Elliott Wave theory
NERFINISHED
ⓘ
financial markets ⓘ technical analysis ⓘ |
| usedWith |
Elliott Wave impulse waves
NERFINISHED
ⓘ
Fibonacci retracement ⓘ support and resistance analysis ⓘ trendlines ⓘ |
| visualizedAs | horizontal lines on a price chart ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.