# Purpose of fibonacci

FX:GER30   DAX Index
124 0
It looks like people have been misinformed. First of all, there is no blueprint. So, from a researchers perspective there is no phenomena that we can confirm as inter-subjective. So what does that mean? As of yet no one is right, and no one is wrong. Don't go and tell people what's right or wrong. If you did and you had the answer, you'd be robbing the market for trillions of dollar. This goes for techniques such as elliott wave or usage of Fibonacci.

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.
Formula: 9788-9613=175
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 support and resistance using ordinary charting tools."

Formula:
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

9648+1.618*177=9934.386

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 fibonacci retracement tool. It's goal is to measure the % of reference point of price 1 and 2.
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