Fibonacci Commodity Exercises

These exercises will give more examples on retracement and expansion. first exercise is to figure-out direction of the Commodities trend & then determine if Fibo tool used is Fib retracement or expansion and then figure how it is drawn then practice drawing them on a chart.

Tasks:

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

To find a chart just Download MetaTrader 4 trading software from any one of the many brokers.

After you have downloaded MT4, Navigate to the menu 'insert' at top left corner, on the drop-down menu, click Fibo & select either the option of Fibonacci retracement or expansion. Then plot it as described in the previous lessons of Expansion & 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 trend direction

Hint: Retracement has points 1 and 2

Hint: Expansion has point 1, 2 and 3