61.8% Metal Fibo Expansion Level

We useFibo expansion areas to estimate where the metals trend movement will reach. There are Two important Fibonacci expansion levels: 61.8% and 100% Metals Trading Fibo Expansion Areas, these are used for taking profit.

61.8% Metal Fib Expansion Level

61.8 Metals Trading Fib Expansion Level is the most commonly used metals profit taking level when trading using the Metals Fibonacci Expansion Technical Indicator.

To draw Metals Trading Fibonacci Expansion levels on metals chart we wait until the metals price retracement is complete & the metals price starts to move in the original direction of the Metals trend. Where the metals price retracement reaches is used as chart point 3. Metals Trading Fibonacci Expansion Technical Indicator is drawn using 3 chart points as shown on the metal examples illustrated & described below of how to draw the Metals Fibonacci Expansion Technical Indicator.

The Fib expansion examples described below shows the Three Chart Points where the Fibonacci expansion technical indicator is drawn, marked as Chart point 1, Chart point 2 & Chart point 3.

Chart point 1 is where the metals trend started, Chart point 2 is where the metals trend pulled back & retraced & Chart point 3 is where the metals retracement reached as shown on the Metals Fibo Expansion Technical Indicator Tool examples illustrated & described below.

The First Metals Trading Fibo Expansion Level is the 61.8 Metals Fibo Expansion Level shown Below Used to Set Take Profit Metals Orders

Metals Trading Fibo Expansion Level is the 61.8 Metals Fibo Expansion Level shown Below Used to Set Take Profit Metals Orders

Please note where these Metals Trading Fib Expansion levels are drawn - Metals Trading Fibo Expansion levels are plotted above the Fibonacci indicator, these are the chart points where a trader will place the take-profit orders using these Metals Fibo Expansion Levels - 61.8% Metals Fib Expansion Areas.