Fibonacci extension

Hi everyone,

I see that we update the Fibonacci retracements and extensions after each market closure. So I conclude that both the retracements and the extensions are variants, instead of constants.

But I learned elsewhere that we could figure out the target price of, say, wave 3 of a certain stock by multiplying the length of wave 1 with a Fibonacci extension point, 1.618, for example. Since the length of wave 1 is fixed, and the starting point of wave 3 is also fixed, the target price of wave 3 should be a constant, instead of a variant, isn't it?

So here comes my question: which extension is more accurate and should be taken to be the point of my exiting the trading, pls.?

Thanks in advance.

the only thing that is fixed in the stock market is what already happened. you cannot have a constant target for anything and expect that to happen 100% of the time... everything is variable. the fib ext of 127 and 1618 give us areas to watch more closely. neither is more important than the other. they are guidelines. each day the momemtum is different . the reason the fib retracements and ext change is that we are measuring a different day.. a different high and low.