100.0% XAUUSD Trading Fib Extension Level
We useFibonacci expansion levels to estimate where the trend movement will reach. There are 2 important Fib expansion levels: 61.80% & 100.00% Fibonacci Extension Areas, these are used for taking profit.
100.0 XAUUSD Trading Fib Extension Level
100.0 Gold Trading Fib Extension Level isn't oftenly used to set gold profit taking orders when trading using the Fibo Extension Technical Indicator.
Most gold traders will use the 61.8% Fibonacci Extension level.
To draw Fibo Extension levels on the gold chart we wait until the xauusd price retracement is complete & the price starts to move in original direction of the Gold trend. Where the xauusd price retracement reaches is used as chart point 3. Fibo Extension Indicator is drawn using three chart points as illustrated on the examples illustrated & explained below of how to draw the Fib Extension Technical Indicator Tool.
The Fibonacci expansion examples illustrated & explained below shows the 3 Chart Points where the Fib expansion technical indicator is drawn, marked as Chart point 1, Chart point 2 & Chart point 3.
Chart point 1 is where the gold trend started, Chart point 2 is where the gold trend pulled back & retraced and Chart point 3 is where the gold retracement reached as displayed on the Fibonacci Extension Technical Indicator Tool example illustrated and explained below.
The First Fibonacci Extension Level is the 61.8% Gold Trading Fib Extension Level and the second is 100.0 Gold Trading Fib Extension Level shown Below - These Fibonacci Extension Levels are Used by Gold Traders to Set Take Profit Gold Orders
Fibonacci Extension Level - 61.8% Gold Fibonacci Extension & 100.0% Gold Trading Fib Extension Level Used to Set Take Profit Gold Orders
Please note where these Fibo Extension levels are drawn - Fibo Extension zones are plotted above the Fibo technical indicator, these are chart points where a trader will place take profit orders using these Fibo Extension Levels - 100.0% Fibonacci Extension Level is the second Fibonacci Level.
