Has anyone else noticed that some charting packages and Fibonacci calculators etc. use the 76.4% level as a retracement, while others use the 78.6%? This may seem insignificant, but on higher timeframes it makes a huge difference.
If we are talking symmetry, the 76.4% is the mirror image of the 23.6% so I would think that is the likely choice, and more brokers seem to use that level. But for example Action Forex has 78.6% as the level on their Fibonacci calculator, and that is a highly respected site. Where does the 78.6% come from?
If we are talking symmetry, the 76.4% is the mirror image of the 23.6% so I would think that is the likely choice, and more brokers seem to use that level. But for example Action Forex has 78.6% as the level on their Fibonacci calculator, and that is a highly respected site. Where does the 78.6% come from?