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Fibonacci Gold Exercises

These exercises will give more examples on retracement & 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 Fibonacci 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 MetaTrader 4 software from any one of the many online brokers.

After you've downloaded MT4, Navigate to the menu "insert" at tops left corner, on the dropdown menu, click Fibo and choose either the choice/option of Fibonacci retracement or expansion. Then plot it as expounded 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 Trading Indicator on MetaTrader 5 Software?

Hint: point 1 up to point 2 follows trend direction

Hint: Fib Retracement has points 1 & 2

Hint: Fib Extension has point 1, 2 & 3

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