Hey man, thanks for the charts. I am working on my harmonic pattern trading and was wondering where are these fibs coming from? Probably pretty obvious but I am a new trader so any help is much appreciated.
@Cryptonghtmre, They come from Leonardo Fibonacci, a mathematician of the Middle Ages, who popularized the usage of Hindu-Arabic numeral system instead of Roman. He also introduced abacus for business calculations thus boosting the banking and accounting in Europe. He also introduced the Fibonacci sequence in his book Liber Abaci (1202). Many think that he developed the sequence but he borrowed it from Indian mathematicians. The sequence was known in India in th 6th century.
@Cryptonghtmre, I first stretch from X to A to measure the B-point. Then I inverse from A to X and enable extesions to measure the C-point. Lastly, I measure from X to C to measure the D-point (completion). If you are interested, I can give you a link to my free educational resource on pattern recognition, trade execution and trade management.