Retracements and Extensions

Retracements

Retracments

Extensions

fib extensions

Save a default setting

make fib tool setting a default

Fibonacci tools are found by left clicking on the Active Tool icon in the lower right.

The available tools pop-up menu will display.


Retracements

1) Place a Fibonacci retracement on the chart for possible levels of resistance or support based on a prior price move.

2) Click and drag between two points on the chart, typically the start (high/low) and the end (low/high) of the prior or current move.

Settings

3) Right click on any part of the Drawing to reveal a drop-down menu to Edit properties...

4) In the Properties window, customize the Fib drawing by:

  • checking which lines you want to appear on the chart

  • clicking on any number in the "coefficient" column to change the Fib levels

  • change the color of the Fib level

  • choose a different style of line

  • increase a line's width

  • change how the lines extend on the chart and other settings

Changing settings in a Fib tool can help clean up the chart and clarify what levels are significant.

Extensions

1) Place a Fibonacci extensions (aka projection) on the chart to draw a prediction of a move into the future.

2) Click and drag between two points on the chart, typically the start (high/low) and the end (low/high) of a move. Drag to a third point C. This third point is where the A-B move will be projected from.

Settings

3) Right click on any part of the Fibonacci Extension tool and change the settings (see #4 above under Retracments).

For more on Fibonacci Tools in TOS

https://tlc.thinkorswim.com/center/reference/Drawings/Fibonacci

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