Level 9Fibonacci and measured targets
Measured targets
A measured target is a price projection produced from a pattern's own size. The tradition works like this: for the flag of level 7, the pole's length is added to the breakout point; for the double top of level 8, the depth between peak and neckline is projected downward after the break; for a head and shoulders, the distance from head to neckline does the same job. The shared logic: an assumption that the energy a structure stored can produce a comparable distance.
Using a target correctly begins with naming it correctly: a target is not a DESTINATION but the scale of a scenario. "If the break holds, the traditional projection points to this area" is analysis; "price will go there" is not. Price may never reach the target, may sail past it, or may build a structure on the way that spoils the scenario — all three are ordinary outcomes.
Targets read best alongside the rest of the map. If the projection area coincides with a known support/resistance zone or a Fibonacci zone — confluence again — that area earns closer watching. And never skip the target's twin question: WHERE does the scenario break down? Level 10 will deepen that question under the name of invalidation.
This content is educational information, not personalised investment advice. The chart examples are illustrative.
A short note
"If the break holds, the traditional projection points to this area" is analysis; "price will go there" is not. Never reaching the target, sailing past it, and the scenario spoiling on the way are all ordinary outcomes. Nor does the projection belong in the bin: the scale is what makes scenarios comparable. The target's twin question — where does the scenario break down? — is asked by stations 9 and 10 together.