I have never found any reliability in these <i>except</i> Fib extensions -- and ONLY when measuring 50% and 100% extensions when I have a sense of where the VWAP will be for the day. Fib numbers may correspond to patterns in nature in proportions and ratios, but I do not think they have any relevance in how supply and demand, trading emotions, account growth/depletion, and price discovery functions. In every publication I've read, even ones I find pretty sane and pragmatic, Fib retracement levels, Fib extensions, Fib time, etc. are endlessly referrenced. I would like to know who finds these tools useful and why, because it seems to me like a kind of mass mysticism that people put stock in without understanding any fundamental reason behind it.