61.8 Commodities Trading Fib Expansion Level
We useFibonacci expansion levels to estimate where the commodity trend movement will reach. There are Two important Fibo expansion areas: 61.8% and 100% Commodity Fibonacci Expansion Levels, these are used for profit taking.
61.8 Commodities 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 Fibonacci Expansion Technical Indicator.
To draw Commodity Trading Fibonacci Expansion 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 Expansion Technical Indicator is plotted using three chart points as shown and illustrated on the commodity example illustrated and explained below of how to plot the Commodity Fibonacci Expansion 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 Trading Fibo Expansion Indicator Tool example illustrated & explained below.
The First Commodity Trading Fibonacci Expansion Level is 61.8 Commodity Trading Fibonacci Expansion Level illustrated Below Used to Set Take Profit Commodity Trading Orders
Commodity Trading Fibonacci Expansion Level is 61.8 Commodity Trading Fibonacci Expansion Level illustrated Below Used to Set Take Profit Commodity Trading Orders
Please note where these Commodity Trading Fib Expansion zones are plotted - Commodity Trading Fibonacci Expansion zones are plotted above Fibo indicator, these are the chart points where a trader will set the takeprofit orders using these Commodity Fibo Expansion Levels - 61.8% Commodity Trading Fib Expansion Levels.
