100.0 Commodity Trading Fib Projection Level
We useFibonacci expansion levels to estimate where the commodity trend movement will reach. There are 2 important Fibonacci expansion levels; 61.8% and 100.0% Fibonacci Projection Levels, these are used for taking profit.
100.0 Commodity 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 Trading Indicator.
Most commodity traders will use the 61.8% Fibonacci Projection level.
To draw Fibonacci Projection levels on the commodities chart we wait until the commodities price retracement is complete and the commodities price starts to move in the original direction of the Commodities trend. Where the commodities price retracement reaches is used as chart point 3. Fibonacci Projection Indicator is drawn using three chart points as shown on the trading example illustrated and explained below of how to draw the Fibonacci Projection Indicator Tool.
The Fibonacci expansion example illustrated and explained below shows the 3 Chart Points where the Fibonacci expansion indicator is drawn, marked as Chart point 1, Chart point 2 and Chart point 3.
Chart point 1 is where the commodity trend started, Chart point 2 is where the commodity trend pulled back and retraced and Chart point 3 is where the commodity retracement reached as shown on the Fibonacci Projection Indicator Tool example illustrated and explained below.
The First Fibonacci Projection Level is the 61.8% 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 Fib Projection and 100.0% Commodity Trading Fib Projection Level Used to Set Take Profit Commodity Trading Orders
Please note where these Fibonacci Projection levels are drawn - Fibonacci Projection levels are drawn above the Fibonacci indicator, these are the chart points where a commodity trader will set the take profit orders using these Fibonacci Projection Levels - 100.0% Fibonacci Projection Level is the second Fibonacci Level.
