61.8 Commodity Trading Fib Expansion 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% Commodity Trading Fibonacci Expansion Levels, these are used for taking profit.
61.8 Commodity Trading Fib Expansion Level
61.8 Commodity Trading Fib Expansion Level is the most commonly used commodity profit taking level when trading using the Commodity Trading Fibonacci Expansion Commodity Trading Indicator.
To draw Commodity Trading Fibonacci Expansion 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. Commodity Trading Fibonacci Expansion Indicator is drawn using three chart points as shown on the commodity example illustrated and explained below of how to draw the Commodity Trading Fibonacci Expansion 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 Commodity Trading Fibonacci Expansion Indicator Tool example illustrated and explained below.
The First Commodity Trading Fibonacci Expansion Level is the 61.8 Commodity Trading Fib Expansion Level shown Below Used to Set Take Profit Commodity Trading Orders
Commodity Trading Fibonacci Expansion Level is the 61.8 Commodity Trading Fib Expansion Level shown Below Used to Set Take Profit Commodity Trading Orders
Please note where these Commodity Trading Fibonacci Expansion levels are drawn - Commodity Trading Fibonacci Expansion levels are drawn above the Fibonacci indicator, these are the chart points where a commodity trader will set the take profit orders using these Commodity Trading Fibonacci Expansion Levels - 61.8% Commodity Trading Fibonacci Expansion Levels.
