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Fibonacci Gold 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 Fibo tool used is Fib retracement or expansion & then figure how it is drawn then practice drawing them on a trading chart.

Tasks:

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

To find a chart just Download MT4 software from any one of the many trading online brokers.

After you've downloaded MetaTrader 4, Navigate to the menu "insert" at tops left corner, on the dropdown menu, click Fibo and choose either the option of Fibonacci retracement or expansion. Then plot it as explained in the previous guides of Expansion and retracement. Then do the following exercises:

Retracements & Extensions levels Exercise

Exercises 1:

XAUUSD Fib Expansion Strategies using XAUUSD Fib Expansion Levels

Exercises 2:

Fib Expansion Chart Levels Exercise vs Fibonacci Retracements Chart Levels Exercises

Exercises 3:

Fib Expansion Levels Chart Levels Exercise vs Fib Retracement Chart Levels Exercises

Exercises 4:

Fib Expansions Chart Levels Exercise vs Fib Retracement Chart Levels Exercises

Exercises 5:

Fibonacci expansion on Chart - How Do You Trade MT5 Fibo Expansion Technical Indicator on MT5 Software?

Hint: point 1 up to point 2 follows trend direction

Hint: Fib Retracement has points 1 & 2

Hint: Fibonacci Extension has point 1, 2 and 3

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