Fibonacci retracement and extension calculator

Worked example

Gold rallies from an illustrative 3,900 to 4,100, a swing of 200. Traders who wait for a pullback watch the retracement levels under the high: 4,023.60 at 38.2%, 4,000.00 at 50% and 3,976.40 at 61.8%.

Each level is the high minus a share of the swing. The 61.8% level is 4,100 − 0.618 × 200 = 3,976.40. The 23.6% level, 4,052.80, is the shallow one, and 3,942.80 at 78.6% is the last stop before the whole swing is gone.

If the rally carries on past the high, the extensions give targets: 4,154.40 at 127.2% and 4,223.60 at 161.8%, measured from the start of the swing. Say instead the price pulls back to 3,976.40 and turns up. Type 3,976.40 as the pullback price and the extensions are measured from there: 4,230.80, 4,300.00 and 4,500.00.

The formula

For a swing up: retracement = high − (high − low) × ratio, and extension = base + (high − low) × ratio. For a swing down the signs flip: retracement = low + (high − low) × ratio, and extension = base − (high − low) × ratio.

The base is the pullback price when you give one, which is how a trend-based extension works. Without it the base is where the swing started, so the 161.8% extension sits 61.8% of the swing beyond its end. Some tools measure extensions from the end of the swing instead, so their numbers can differ from ours for the same ratio. The levels say where to look, not what the price will do. Pair them with a stop and a size from the position size calculator.

Questions and answers

How do you calculate Fibonacci retracement levels?

Take the size of the swing, multiply it by the ratio and take the result off the high for a swing up. From 3,900 to 4,100 the swing is 200, so the 61.8% retracement is 4,100 − 0.618 × 200 = 3,976.40.

What is the difference between a retracement and an extension?

A retracement sits inside the swing and shows how far a pullback might go. An extension sits beyond the swing and is used for targets once the move resumes. In the example the retracements run from 4,052.80 down to 3,942.80, and the extensions from 4,154.40 up.

Which Fibonacci levels do traders use most?

38.2%, 50% and 61.8% for pullbacks, and 127.2% and 161.8% for targets. The 50% level is not a Fibonacci ratio, but it has been on Fibonacci tools for so long that everyone draws it.

Does it work for forex and crypto?

Yes. The math only needs two prices, so it works for any market. Type the prices with the decimals your chart shows, like 1.0850 for EUR/USD, and the levels come back with one more decimal.

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