Fibonacci Gold Exercises

These exercises will give more examples on retracement and expansion. The first exercise is to figure out the direction of the Gold trend and then determine if the Fibo tool used is retracement or expansion & then figure how it's drawn then practice drawing them on a xauusd chart.

Tasks:

1. Figure out the direction of the Gold trend
2. Determine if Fib is retracement or expansion
3. Figure how it is drawn
4. Practice plotting retracement or expansion on a xauusd chart.

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

After you've downloaded MT4, Navigate to the menu "insert" at tops left corner, on the drop down menu, click Fibonacci and choose either the option of retracement or expansion. Then plot it as explained in the previous lessons of Expansion and retracement. Then do the following exercises:

Retracements and Expansions Exercise

Exercises 1:

Exercises 2:

Exercises 3:

Exercises 4:

Exercises 5:

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

Hint: Retracement has points 1 & 2

Hint: Expansion has point 1, 2 and 3