### Basic Formula for Determining Fibonacci Projection Level:

Suppose 200% (double) Fibonacci projection occurs in an Uptrend market and if the projection level is D, then we can determine the value of D in the following way. The above projection formula in the Uptrend market basically applies to all Fibonacci Projection ratios or levels. In the above formula, "FER" means "Fibonacci Extension Ratio".

Similarly, suppose 200% (double) Fibonacci projection occurs in any downtrend market and if the projection level is D, then we can determine the value of D in the following way. The above projection formula in downtrend market basically applies to all Fibonacci Projection ratios or levels. In the above formula, "FER" means "Fibonacci Extension Ratio".

Note: Extension ratios used to determine Fibonacci Extension levels are mainly used to determine Fibonacci Projection levels. For this reason, both the above formulas Fibonacci Extension and Fibonacci Projection have written "FER" (i.e., Fibonacci Extension Ratio).