Hello All, the attached chart illustrates the technique of 'stepping a fibo' from Wave to Wave. The original White fibo was copied and pasted onto the base of the next wave. Generally it is the Close that more significantly hits the fibo level, rather than the HH/LL that often goes beyond the fibo line. The Blue and Red fibo lines have been placed on the Wave's LL and LC respectively to illustrate the results when using different start points. The MetaStock 'Standard Error Channels' are used at the default Close setting. Try stepping a fibo on the 5 min chart of today's price move. Wallace.