100.0 Commodities Trading Fib Projection Level
We useFibonacci expansion areas to estimate where the commodity trend movement will reach. There are Two important Fibonacci expansion areas: 61.8% and 100.0% Fibonacci Projection Areas, these are used for taking profit.
100.0 Commodities Trading Fib Projection Level
100.0 Commodity Trading Fib Projection Level is not commonly used to set commodity profit-taking orders when trading using the Fibonacci Projection Commodity Indicator.
Most commodity traders will use the 61.8% Fibonacci Projection level.
To draw Fibonacci Projection levels on commodities chart we wait until the commodities trading price retracement is complete and commodities trading price starts to move in original direction of the Commodities trend. Where the commodities trading price retracement reaches is used as chart point 3. Fibonacci Projection Trading Indicator is plotted using three chart points as shown and illustrated on the examples illustrated and described below of how to plot the Fibonacci Projection Technical Indicator Tool.
The Fibonacci expansion example explained below shows the 3 Chart Points where the Fib 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 Fibonacci Projection Technical Indicator Tool example illustrated & explained below.
The First Fib Projection Level is the 61.80% Commodity Trading Fib Projection Level and the second is 100.0 Commodity Trading Fib Projection Level shown Below - These Fibonacci Projection Levels are Used by Commodities Traders to Set Take Profit Commodity Trading Orders
Commodities Trading Fibonacci Projection Level - 61.8% Commodity Trading Fibo Projection & 100.0% Commodity Trading Fib Projection Level Used to Set Take Profit Commodity Trading Orders
Please note where these Fib Projection areas are drawn - Fibo Projection levels are drawn above the Fibo indicator, these are the chart points where a trader will set the takeprofit orders using these Fibonacci Projection Levels - 100.0% Fibonacci Projection Level is the second Fibonacci Level.
