Fibonacci Energy Exercises
These exercises will give more examples on retracement and expansion. The first exercise is to figure-out the direction of the trend and then determine if the Fibonacci indicator used is Fib retracement or expansion and then figure how it is drawn then practice drawing them on a chart.
Tasks:
- Determine the direction of the trend
- Determine if the Fibonacci is retracement or expansion
- Figure out how it is drawn
- Practice plotting retracement or expansion on a chart.
To find a chart just Download MT4 software from any one of the many brokers.
After you have downloaded MT4, Go to the menu "insert" at top left corner, on the drop-down menu, click Fib and select either the option of Fibonacci retracement or expansion. Then draw it as explained in the previous guides of Expansion and 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: Fibonacci Retracement has points 1 and 2
Hint: Fibonacci Expansion has point 1, 2 and 3
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Alternatives: EA Automated Robots or Copier Trading Signals
