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