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A special case of a Fibonacci three‐leg retracement formation is that of the as-
cending triangle pattern where the general rule is satisfied by all three price ranges
within the area of observation. See Figure 10.63.

10.16.5 Fibonacci Complex multi‐Leg

retracement Formations

Even within complex multi‐leg formations, we should still abide by the general
rule for calculating and plotting adjacent and overlapping retracement levels. In

Figure 10.62 Fibonacci Downside Retracement Levels in a Three‐Leg Formation for
Ranges AF, CF, and EF.

Figure 10.63 Fibonacci Downside Retracement Levels in an Idealized Ascending Tri-
angle Formation for Ranges AF, CF, and EF.