What is Fibonacci Extension?
Fibonacci extension projects proportional levels beyond a reference swing to map potential measured objectives rather than retracements inside the original move.
Fibonacci Extension matters because it gives analysts a consistent way to discuss mapping proportional price and time levels. These tools impose structured ratios or angles on a chart so analysts can compare retracements, extensions and time relationships consistently.
How to read Fibonacci Extension
Read Fibonacci Extension as a map of reference levels created from explicit anchors. If the anchor points change, the geometry changes, so the analyst should be able to explain why those particular points were selected.
What Fibonacci Extension does not tell you
The geometry depends on the analyst’s anchor points, so different valid anchors can produce different reference levels. Different analysts can apply discretionary frameworks differently, so reproducibility requires explicit rules and anchor choices.
Use in bonds, rates and macro markets
They are discretionary charting frameworks rather than fundamental fixed-income models; BondStats presents them as chart terminology, not as validated forecasting rules.
Technical chart structures are context, not certainty. BondStats does not present a candlestick, drawing tool, indicator reading or chart pattern as a standalone investment recommendation. Where a concept depends on discretionary anchors or parameter choices, those choices should be made explicit.