61.8% Crude Oil Fibo Expansion Level

We useFibonacci expansion levels to estimate where the oil trend movement will reach. There are 2 important Fibo expansion levels: 61.8% and 100% Oil Fibonacci Expansion Levels, these are used for profit taking.

61.8% Crude Oil Trading Fib Expansion Level

61.8 Oil Trading Fib Expansion Level is the most commonly used oil profit taking level when trading using the Oil Trading Fib Expansion Indicator.

To draw Oil Trading Fibonacci Expansion levels on crude oil chart we wait until the crude crude oil price retracement is complete & the crude crude oil price starts to move in the original direction of the Oil trend. Where the crude crude oil price retracement reaches is used as chart point 3. Oil Fibonacci Expansion Indicator is drawn using three chart points as shown and illustrated on oil example displayed below of how to draw the Oil Fibonacci Expansion Indicator Tool.

The Fibo expansion examples illustrated below shows Three Chart Points where the Fibo expansion indicator is drawn, marked as Chart point 1, Chart point 2 and Chart point 3.

Chart point 1 is where the oil trend started, Chart point 2 is where the oil trend pulled back and retraced & Chart point 3 is where the oil retracement reached as displayed on the Oil Fibonacci Expansion Indicator Tool examples shown below.

The First Oil Trading Fibonacci Expansion Level is 61.8 Oil Trading Fib Expansion Level shown Below Used to Set Take Profit Oil Trading Orders

Oil Trading Fibonacci Expansion Level is 61.8 Oil Trading Fib Expansion Level shown Below Used to Set Take Profit Oil Trading Orders

Please note where these Oil Trading Fibonacci Expansion levels are drawn – Oil Trading Fibonacci Expansion levels are drawn above Fibo indicator, these are the chart points where a oil trader will set the take profit orders using these Oil Fibonacci Expansion Levels - 61.8% Oil Trading Fib Expansion Levels.