The Fib
Retracement tool does not work for me the way it is described in the drawing
tool help. With extensions set to on, I find that no matter which direction I
draw the downtrend line, the extensions go to the downside. My boxes are
properly checked as described in the help file.
Here is the
help info:
First please note that Fibonacci
tool works differently depending on the direction of drawing and "show extensions" flag. See
the pictures below.
As you can see it shows both
retrace levels (38.2, 50, 61.8) and extension levels
(127.2, 161.8). If "show extensions" box is OFF
the tool shows ONLY retrace levels. It works in a similar way when controlling
trend line is drawn downwards.