61.8% Crude Oil Trading Fib Extension Level

We useOil Fibonacci Extension Levels to estimate where the oil trend movement will reach. There are 2 important Oil Trading Fib Extension levels: 61.8% & 100% Oil Fibo Extension Levels, these are used for profit taking.

61.8% Crude Oil Trading Fib Extension Level

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

To draw Oil Trading Fib Extension 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 Extension Technical Indicator is drawn using three chart points as shown and illustrated on oil examples displayed below of how to draw the Oil Fibonacci Extension Technical Indicator Tool.

The Oil Fibo Extension example shown and illustrated below shows the 3 Chart Points where the Oil Fibo Extension 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 Extension Technical Indicator Tool examples shown and illustrated below.

The First Oil Trading Fib Extension Level is the 61.8 Oil Fibo Extension Level shown Below Used to Set Take Profit Oil Trading Orders

Oil Trading Fib Extension Level is the 61.8 Oil Fibo Extension Level shown Below Used to Set Take Profit Oil Trading Orders

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