61.8 Commodity Trading Fib Extension Level
We useCommodity Trading Fibonacci Extension Levels to estimate where the commodity trend movement will reach. There are 2 important Commodity Trading Fibonacci Extension levels; 61.8% and 100% Commodity Trading Fibonacci Extension Levels, these are used for taking profit.
61.8 Commodity Trading Fib Extension Level
61.8 Commodity Trading Fib Extension Level is the most commonly used commodity profit taking level when trading using the Commodity Trading Fibonacci Extension Commodity Trading Indicator.
To draw Commodity Trading Fibonacci Extension 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 Extension 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 Extension Indicator Tool.
The Commodity Trading Fibonacci Extension example illustrated and explained below shows the 3 Chart Points where the Commodity Trading Fibonacci Extension 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 Extension Indicator Tool example illustrated and explained below.
The First Commodity Trading Fibonacci Extension Level is the 61.8 Commodity Trading Fib Extension Level shown Below Used to Set Take Profit Commodity Trading Orders
Commodity Trading Fibonacci Extension Level is the 61.8 Commodity Trading Fib Extension Level shown Below Used to Set Take Profit Commodity Trading Orders
Please note where these Commodity Trading Fibonacci Extension levels are drawn - Commodity Trading Fibonacci Extension 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 Extension Levels - 61.8% Commodity Trading Fibonacci Extension Levels.
