Asdx007,
Use this web for quick calculation. (or more websites as my above post)
http://www.forexpros.com/forex-tools/fibonacci-calculator
I select 12.5 and 20 base on one wave (for short term trade). You can select 8c L and 20c H if you like for a long term down trend if you think the stock is weak and will retrace deeper. You can even choose 6.1c L (11 Aug) and 20 H for long term retracement.
____________________________
Example my post on 07/09/09 11:06 (below) , I selected 25.5 H and 2.8 L for a maximum/long term expansion from 2.8c low. The prediction FMS will jump up to 20.5c (78.6%) which is correct (jus 0,5c different).
_______
Good run. Market feels confident and start re-rate FMS. Chance of falling < 10c is very low. Test Fib uptrend
Fibonacci Calculator
High 25.5 Low: 2.8
Expansion
23.6% = 8.2
38.2% = 11.5
50.0% = 14
61.8% = 16.5
78.6% = 20.5
100.0% = 25.5
IMO 16.5 is on the card. May hit 78.6% = 20.5 (beautifully done at 20c!)
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