100.0 Commodities Trading Fib Extension Level
We useFibonacci expansion levels to estimate where the commodity trend movement will reach. There are Two important Fibonacci expansion areas: 61.8% and 100.0% Commodity Fibonacci Extension Levels, these are used for profit taking.
100.0 Commodities Trading Fib Extension Level
100.0 Commodity Fibonacci Extension Level isn't oftenly used to set commodity profit-taking orders when trading using the Commodity Fibonacci Extension Technical Indicator.
Most commodity traders will use the 61.8% Commodity Trading Fibo Extension level.
To draw Commodity Fibonacci Extension levels on commodities chart we wait until the commodities price retracement is complete & the commodities price starts to move in original direction of the Commodities trend. Where the commodities price retracement reaches is used as chart point 3. Commodity Fibonacci Extension Indicator is plotted using three chart points as shown and illustrated on the examples illustrated and described below of how to plot the Commodity Fibonacci Extension Technical Indicator Tool.
The Fib expansion examples explained below shows the Three Chart Points where the Fibonacci expansion technical indicator is plotted, marked as Chart point 1, Chart point 2 & Chart point 3.
Chart point 1 is where the commodity trend started, Chart point 2 is where the commodity trend pulled back & retraced and Chart point 3 is where the commodity retracement reached as displayed on the Commodity Fibonacci Extension Technical Indicator Tool example illustrated & explained below.
The First Commodity Fibonacci Extension Level is 61.8% Commodity Fibonacci Extension Level and the second is 100.0 Commodity Trading Fib Extension Level shown Below - These Commodity Fibonacci Extension Levels are Used by Commodities Traders to Set Take Profit Commodity Trading Orders
Commodity Fibonacci Extension Level - 61.8% Commodity Trading Fib Extension & 100.0% Commodity Trading Fib Extension Level Used to Set Take Profit Commodity Trading Orders
Please note where these Commodity Fib Extension areas are drawn - Commodity Fibonacci Extension zones are drawn above the Fibo indicator, these are the chart points where a trader will set the takeprofit orders using these Commodity Fibonacci Extension Levels - 100.0% Commodity Fibonacci Extension Level is the second Fibo Level.
