What are XAUUSD Trading Fib Retracement Levels?
What Does Fibonacci Retracement Levels Mean?
Fibonacci Retracement Levels indicator is a gold trading tool used by many traders to spot xauusd trading price retracements also known as xauusd trading price pullback.
Fibonacci Retracement Levels is a type of line study used in gold trading to predict and calculate these xauusd trading price retracement levels.
Fibonacci Retracement Levels indicator is placed directly on the gold chart within the gold trading platform provided by your xauusd trading broker, This Fibonacci Retracement Levels indicator will then automatically calculate these retracement xauusd trading price pullback levels on the xauusd chart.
What are the Fibonacci Retracement Levels? - What is Fibonacci Retracement?
- 23.6% XAUUSD Trading Fib Retracement Levels
- 38.2% Gold Trading Fibonacci Retracement Levels
- 50.0% Gold Trading Fibonacci Retracement Levels
- 61.8% Fibonacci Retracement Levels
38.2% and 50.0% Fibonacci Retracement Levels are the most used and most of the time this is where the price retracement will reach. With 38.2% Fibonacci Retracement Level being the most popular and most widely used retracement level in gold trading.
61.8% Fibonacci Retracement Level is also commonly used to set stop losses for trades opened using this gold trading retracement strategy.
This Fibonacci Retracement Levels tool is drawn in the direction of the trend as shown in the two examples below.
Fibonacci Retracement Levels on Upward XAUUSD Trend
Fibonacci Retracement Levels on Upward Gold Trend
Fibonacci Retracement Levels on Downward XAUUSD Trend
Fibonacci Retracement Levels on Downward Gold Trend
