FX:AUDCAD   Australian Dollar/Canadian Dollar
13 0 0
Hi, just wondering if what i have done was correct. Just recently only started to learn about Fibonacci.

If i'm not wrong, but do correct me if i'm wrong,
Point C will the the point where I have to open my position at that Price, while Point D will be the point where I have to Take Profit.

First Step will be Fib Retracement of XA to find the 0.618
Second Step will be using the Fibonacci Extension of XA to find the (1.272-1.414)
Third Step will be Point D at 0.786

I am not sure if the Fibonacci Retracement of XA, the Point of B must be between 0.382-0.618 or it just have to reach somewhere 0.618?

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