Where do I calculate the 23.6 % 38.2% 50% 61.8% 100% levels? for example on a daily chart, I'll look at the very bottom and say, "Ok, in 3 months the stock was at a low of 48.69 (best buy 3 months)" then I start my calculations from there 23.6% of 48.69 = 11.49 11.49 + 42.15 = 60.18 in a 3 month period, Best Buy didn't even go up that high. Highest was 59.50. 50% would be 73.03 dollars a share, and the last time BBY hit that price was last year. I dont think I'm doing this right, can someone help me please. - nathan
Here you go... http://www.actionforex.com/resources/tools/fibonacci_calculator_200603205723/ Just subtract the low from the high in an uptrend and multiply by your chosen retracement. Vice versa when downtrending.. Raf
You need to establish a high and low point for fibs. A lot of traders will set the fib levels from a low point to a high point and then determine at what fib level they think the retracement will stop.
Most charting software has a tool to graphically indicate Fibs. Read the instructions and do a couple of examples. It will then be clear to you.
WOW, great site, thanks! Also, with fib extensions of: 161.8 % 261.8 % 423.6 % calculated the same way as fib retracements? - nathan -----
============= Interesting title ''Five fibonacci tricks'' #5 was a key level on some the price chart examples also; didnt see 13 much this time
Trader-X blog has a spreadsheet he will send you. Just plug in the high and low. Or, you can make your own. Look under his welcome post "request Excel spreadsheet". www.traderxblog.com