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Fibonacci Forex Exercises - Fibonacci Expansion Levels Exercise and Fibonacci Retracement Exercise

These fibonacci indicator exercises will give more examples on Fibo Retracement and Fibonacci Expansion. The first exercise is to figure out the direction of the Forex trend and then determine if the Fibonacci tool used is Fibonacci Retracement or Fibonacci Expansion and then figure how it is drawn then practice drawing Fibonacci Retracement levels and Fibonacci Expansion levels on a forex chart.

Tasks:

  1. Figure out the direction of the Forex trend
  2. Determine if the Fibonacci is Fibonacci Retracement or Fibonacci Expansion
  3. Figure how it is drawn
  4. Practice drawing Fibonacci Retracement or Fibonacci Expansion on a forex chart.

To find a Forex trading chart just Download MT4 trading platform from any one of the many forex brokers.

After you have downloaded MT4, Go to the menu 'insert' at the top left corner, on the drop down menu, click Fibonacci and select either the option of Retracement or Expansion. Then draw the indicator tool as explained in the previous lessons of Fibo Retracement and Fibonacci Expansion. Then do the following exercises:

Fibonacci Retracements and Fibonacci Expansions Exercise

Exercises 1:

How to Identify Fibonacci Retracement Patterns in Forex Charts Technical Analysis

Exercises 2:

How to Identify Fibonacci Retracement Patterns in Forex Technical Charts Analysis

Exercises 3:

How to Identify Fibonacci Retracement Setups in Forex Charts Analysis Tutorial

Exercises 4:

How to Identify Fibonacci Retracement Patterns in Forex Charts

Exercises 5:

How to Identify Fibonacci Retracement Patterns in Forex Charts Analysis

Hint: point 1 to point 2 follows the forex trend direction

Hint: Fibonacci Retracement has points 1 and 2

Hint: Fibonacci Expansion has point 1, 2 and 3


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