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query regarding fibonacci technicals


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bcsandy
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Dears
iam pursuing harmonics course online during work from home due to pandemic can you please let me know if fibonacci retracement and fibonacci projection are same.

thank you


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 vmodus 
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bcsandy View Post
Dears
iam pursuing harmonics course online during work from home due to pandemic can you please let me know if fibonacci retracement and fibonacci projection are same.

thank you

They use the same calculation. My wife has done a ton of work on Fibonacci, so I know enough to be dangerous. Here is my over-simplified answer:
  • Retracement shows the levels price may retrace after a given movement
  • Projection (or extension) shows Fibonacci areas beyond the 100% mark
https://www.investopedia.com/ask/answers/05/fibonacciretracement.asp


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bcsandy
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what a brilliant and intellectual reply,brainy couple
can you let me know respected sir if projection and extension means the same just 2 different words same thing
ie it is just resumption of the main trend.
many thanks sir.


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 Brandenton 
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bcsandy View Post
what a brilliant and intellectual reply,brainy couple
can you let me know respected sir if projection and extension means the same just 2 different words same thing
ie it is just resumption of the main trend.
many thanks sir.

Yes, they mean the same thing.


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