Two lower horizontal lines in black represent support levels. Reverse fibonacci extends from 50% (mid distance) upwards so that 0.236 extention matches 1.0521 support. 100% extention (1) is the price to enter short position. Stop loss at 1.236/272 or at strong resistance that aligns with 1.382 Progression/Regression lines are two intervals apart and are used to determine price direction to confirm fib validity. Since I can not predict the angle I take equal leg triangle (adjusted) to predict price range and crossovers.