Ok fair enough Wayward. I replied originally because firstly I...

Ok fair enough Wayward. I replied originally because firstly I think it’s important in any endeavour to occasionally go back review the basics but also because I thought I might disagree with your views on this, making it worth testing. Those levels of 161.8, 200 and 261.8 you suggest are common extension levels for other patterns, but not the most common for double bottoms in my view.

As posted the other day, I have found 150, 200 and 250 to be the more common targets, only slightly different to yours though so maybe not worth splitting hairs over. Nevertheless it would have assisted trading QBE’s recent double bottom which I’ve reposted below.

I also put up another chart for Oil Search’s double bottom from 2002. There enough in this maybe to keep both of us happy. It recently hit a double top to possibly complete the 12 year rise at the 5,250% extension!. Gann numbers at peaks appear more commonly with 150%, 450%, 500%, 800%, 1300%, 2150% and 2550% extensions. Your fib numbers nevertheless had relevance at the 238.2% and 361.8% extensions though.

I’ll stick with my round numbers anyway, but interesting to go back and think about this.