61.8% Metal Fibonacci Extension Level

We useMetals Fibo Extension Zones to estimate where the metals trend movement will reach. There are Two important Metals Fibo Extension levels: 61.8% & 100% Metals Fibonacci Extension Areas, these are used for taking profit.

61.8% Metals Trading Fib Extension Level

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

To draw Metals Fibonacci Extension 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. Metals Fibonacci Extension Trading Indicator is drawn using Three chart points as shown on the metal trading example illustrated & explained below of how to draw the Metals Fibonacci Extension Technical Indicator.

The Metals Fibonacci Extension example illustrated and explained below shows the 3 Chart Points where the Metals Fibonacci Extension indicator is plotted, 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 and retraced & Chart point 3 is where the metals retracement reached as displayed on the Metals Fibonacci Extension Technical Indicator Tool examples illustrated & described below.

The First Metals Fibonacci Extension Level is 61.8 Metals Trading Fib Extension Level displayed Below Used to Set Take Profit Metals Orders

Metals Fibonacci Extension Level is 61.8 Metals Trading Fib Extension Level displayed Below Used to Set Take Profit Metals Orders

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