Trade Gold Trading

Placing Fib Lines on the MT5

The 5th option on the MT5 platform insert menu is Fibo Lines. The Fib Lines Button has the following sub menu MT5 buttons shown below:

Fib Fan - How Do I Interpret MT5 Trading Fibonacci Extension Indicator on MT5 Platform?

Fibonacci Gold on the MT5

Fibonacci Lines

  1. XAUUSD Fibo Retracement
  2. Gold Fibonacci Time Zones
  3. Gold Fibonacci Fan
  4. Gold Fibonacci Arcs
  5. Gold Fibonacci Expansion

Gold Fibonacci Retracement

The Fib retracement can be placed on a Gold chart from the Fibo retracement button. Fibonacci retracement is used to estimate where a price retracement is likely to reach. The Fibonacci retracement areas are plotted like as illustrated and shown below. To learn how to draw & use Fib Retracement Levels read the guide: How to draw Fibonacci Retracement Levels:

Platform MT5 Placing Fibo Lines in MT5 Platform Software - Fibonacci Retracement Levels

Fibonacci Retracement Levels Drawn on a Chart on the MT5 Platform Software

Gold Fibo Time Zones

The Fib time zones are Fibonacci lines drawn at different Fib timelines, these Fib time levels are calculated using the Fib points 1, 2, 3, 5, 8, 13, 21, 34. The Fib levels are 1+2=3, 2+3=5, 3+5=8, first number add to next, next added to the second & so on.

The Fib time zones are illustrated below, at these time lines price changes are likely to occur based on trading analysis of Fibo time zones:

Platform MT5 Placing Fibonacci Lines in the MetaTrader 5 - Fib Expansions - How to Use Fibonacci Projection Zones in MetaTrader 5

Fibonacci Time Zones in MT5 Platform Software

Gold Fibo Fan

The Fibo fan is drawn between 2 chart points and then 3 additional lines below the trend are drawn as the fans, these are 38.2 %, 50.0% & 61.80% Fib retracement levels. Xauusd price is likely to bounce & continue in the original direction after price retraces to any of these fan lines.

The Fibonacci Fan Lines are drawn like illustrated and shown below:

XAUUSD Software MT5 Placing Fibonacci Lines in the MetaTrader 5 - Fibo Expansion - Fib Retracements - Fibo Line

Fibonacci Fans in MT5 Platform Software

Gold Fibo Arcs

Fibonacci arcs are drawn using 2 points, the arcs are then drawn just as shown below and these arcs represent 38.2%, 50.0% and 61.8% Fib retracement levels.

Fibonacci Expansion - Fibo Fan - Drawing Fibonacci Expansions Trading Indicator on MT5 Charts

Fibonacci Arcs Representing Fib Retracement Zones on a Chart

Gold Fibo Expansion

The Fib expansion is used to determine most probable level at which traders should set their take-profit levels based on Fib expansion level 61.8% and 100.0% expansion levels. The Fib expansion levels are also referred to as Fib Extensions or Fib Projection Levels by some traders & these Fibonacci Extension levels are drawn like shown below. Tutorial: How to Draw Fibo Expansions:

XAUUSD Software MT5 Placing Fibo Lines in MetaTrader 5

How to draw Fib Lines and other Fib studies like Fib Expansion & Retracement on MT5 Software Platform

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