100.0% XAUUSD Trading Fib Expansion Level
We useFibonacci expansion levels to estimate where the trend movement will reach. There are 2 important Fibonacci expansion levels; 61.8% and 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 Fibonacci Expansion 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 trading price retracement is complete and the xauusd trading price starts to move in the original direction of the Gold trend. Where the xauusd trading price retracement reaches is used as chart point 3. Fibonacci Expansion Indicator is drawn using three chart points as shown on the trading example illustrated and explained below of how to draw the 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 gold trend started, Chart point 2 is where the gold trend pulled back and retraced and Chart point 3 is where the gold retracement reached as shown on the Fibonacci Expansion Indicator Tool example illustrated and explained below.
The First Fibonacci Expansion Level is the 61.8% Gold Trading Fib Expansion Level and 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 Fib Expansion and 100.0% Gold Trading Fib Expansion Level Used to Set Take Profit Gold Orders
Please note where these Fibonacci Expansion levels are drawn - Fibonacci Expansion levels are drawn above the Fibonacci indicator, these are the chart points where a trader will set the take profit orders using these Fibonacci Expansion Levels - 100.0% Fibonacci Expansion Level is the second Fibonacci Level.
