or it cud end u[p making once it cross the C level and A level.
I am sure most of them know about drawing a Perfect using single Fib Rretaracement tool.
But just in case , i have added it on the chart.
Its often that we draw FIb levels more than patterns, One can easily see when the price action isn following the levels using single FIB levels
Like we see it bouncing off 618 level , then if it reaches 236 and bounce down from there, it can be an indication that its making a .
This only works when ratios are perfect 618. That is When Point B makes a perfect 618 retracemtn of XA
only then the point C falls on 236 level (being 618 of AB) and only then can Point D fall on 786 level. completing the pattern
IF point B= 55.8% fib, (or anythign other than 618), all other ratios change and u cant use this technique.
Only 618-618-786 can be seen using single fib retracement tool.
I know its confusing, But i tried :P