Now to the topic. This IS fact:
What you are seeing are the % of the length from 9613 to 9788. So 2.618 means its an increase of 261.8% from the length 9613 to 9788.
261.8 rectracement= 9788+175*1.618=10070.
Now what is trend-based fib extension?
What does it mean when you draw fib extension like 123.
"Fibonacci Expansions are price levels created by tracking a price’s primary move and its retracement. The resulting price levels are then drawn on the chart in an area that would normally be difficult to gauge using ordinary charting tools."
Price between 1 and 2=9791-9614=177
Price between 2 and 3 9791-9649=143
175-140=34 add that to the original pip-length
9614+34=9648(new reference point 1)
9789+34=9823(new reference point 2)
Use that and add normal procedure as you would for normal fibonacci. say 1.618 increase from 9648
Now, why in the world would someone go all the way and measure using the fibonacci-expansion/trend with reference point A same as C, when it's actually goal is to measure point A,B,C one is practically measuring A,B,A since A=C
You might as well use the normal tool. It's goal is to measure the % of reference point of price 1 and 2.