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