100.0% XAUUSD Trading Fib Expansion Level
We useFibo expansion areas to estimate where the trend movement will reach. There are 2 important Fibonacci expansion areas: 61.8% & 100.0% Fibonacci Expansion Levels, these are used for taking profit.
100.0 XAUUSD Trading Fib Expansion Level
100.0 Gold Trading Fib Expansion Level is not commonly used to set gold profit-taking orders when trading using the Fibo Expansion Technical Indicator.
Most gold traders will use the 61.8% Fibonacci Expansion level.
To draw Fibonacci Expansion levels on the gold chart we wait until the xauusd price retracement is complete & the xauusd price starts to move in original direction of the Gold trend. Where the xauusd trading price retracement reaches is used as chart point 3. Fibonacci Expansion Technical Indicator is plotted using 3 chart points as displayed on the trading examples illustrated and described below of how to plot the Fibonacci Expansion Technical Indicator Tool.
The Fibonacci expansion example illustrated and described below shows the 3 Chart Points where the Fib expansion technical indicator is drawn, marked as Chart point 1, Chart point 2 and Chart point 3.
Chart point 1 is where the gold trend started, Chart point 2 is where the gold trend pulled back and retraced & Chart point 3 is where the gold retracement reached as illustrated on the Fibonacci Expansion Indicator Tool example illustrated & explained below.
The First Fibonacci Expansion Level is the 61.8% Gold Trading Fib Expansion Level & the second is 100.0 Gold Trading Fib Expansion Level shown Below - These Fibonacci Expansion Levels are Used by Gold Traders to Set Take Profit Gold Orders
Fibonacci Expansion Level - 61.8% Gold Trading Fibo Expansion & 100.0% Gold Trading Fib Expansion Level Used to Set Take Profit Gold Orders
Please note where these Fibonacci Expansion zones are plotted - Fibo Expansion zones are drawn above the Fibonacci technical indicator, these are chart points where a trader will set take profit orders using these Fibonacci Expansion Levels - 100.0% Fibonacci Expansion Level is the second Fibonacci Level.
