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 Fib retracement or expansion & then figure how it's drawn then practice drawing them on a chart.

Tasks:

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

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

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

Retracements and Expansions levels Exercise

Exercises 1:

Exercises 2:

Exercises 3:

Exercises 4:

Exercises 5:

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

Hint: Fibonacci Retracement has points 1 & 2

Hint: Fibonacci Expansion has point 1, 2 and 3