Metals Fibonacci Extension Metals Tutorial

We use Metals 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.

To draw Metals Fibonacci Extension levels on the MT4 metal 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 Fibo Extension MT4 Indicator is drawn using three chart points as shown on the metal trading example illustrated & explained below of how to draw the Metals Fib Extension Technical Indicator MT4 Tool.

The Metals Trading Fibonacci Extension MT4 Metals Trading Indicator example illustrated and explained below shows the Three Chart Points where the Metals Trading Fibonacci Extension MT4 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 and retraced & Chart point 3 is where the metals retracement reached as displayed on the Metals Trading Fibonacci Extension MT4 Metal Trading Indicator Tool examples illustrated and described below.

Metals Fibonacci Extension Metals Tutorial - Metals Fibonacci Extension Metal Trading Indicator Course - Metals Fibonacci Extension Levels Guide

Metals Fibonacci Extension Metals Tutorial - Metals Fibonacci Extension Metal Trading Indicator Explained - Metals Fibonacci Extension Levels Guide

Please note where these Metals Fib Extension levels are drawn - Metals Fibo Extension zones are plotted above the MT4 Fibonacci indicator, these are the chart points where a trader will place the take-profit orders using these Metals Fibo Extension Levels - 61.8% and 100.0% Metals Fibo Extension Levels.

Upward Metals Trend - Metals Fibonacci Extension Metals Tutorial - Metals Fibonacci Extension Metal Trading Indicator Explained - Metals Fib Extension Levels Tutorial

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

On the Metals Trading Fibonacci Extension MT4 indicator example illustrated and explained below you can see that the Metals Trading Fibonacci Extension MT4 technical indicator is drawn along the direction of the metals trend, since the metals trend is upward - the MetaTrader 4 Metals Fibo Extension technical indicator is drawn upwards.

These Metals Fibo Extension zones are shown as horizontal lines above the Metals Trading Fibonacci Extension MT4 metals technical technical indicator, showing profit taking areas. In the metal trading examples illustrated and described below if you had used the 100.00% Metals Fibo Extension level the you would have made good profit from this setup.

Upwards Metals Trend - Metals Fibonacci Extension Metals Tutorial - Metals Fibonacci Extension Metal Trading Indicator Course - Metals Fibonacci Extension Levels Guide

Metals Fibonacci Extension Metal Trading Indicator Course - Metals Fibonacci Extension Levels Tutorial

From the above Metals Trading Fibonacci Extension MT4 indicator examples, the upwards metals trend continued and both 61.8% & 100.00% Metals Fibo Extension zones were all hit after which metals price retraced again after getting to the 100.00% Metals Trading Fibo Extension level.

Metal Fibonacci Extension Tutorial

Since we use the Metals Trading Fibonacci Extension MT4 indicator tool to estimate take profit levels, how do we draw MetaTrader 4 Metals Trading Fibonacci Extension in a downward Metals trend?

We draw the Metals Trading Fibonacci Extension MT4 metals tool from chart point 1 to chart point 2 to chart point 3 as shown on the metal trading examples illustrated and described below. Remember we always draw this Metals Trading Fibonacci Extension MT4 indicator tool in the direction of the metal trend. In the Metals Fibonacci Extension example illustrated and explained below, can you figure what is direction that we have drawn it? That's right - downwards direction.

Try and spot difference between how we have drawn Metals Fibo Extension indicator above & how Metals Fibo Extension technical indicator is drawn below. This time you would also have used Metals Fibonacci Extension level 100.0%, just where the metals price reached as illustrated on the metal trading example illustrated and explained below. That would have been a good level for profit taking.

Downwards Metals Trend - Metals Fibonacci Extension Metals Tutorial - Metals Fibonacci Extension Metal Trading Indicator Explained - Metals Fibonacci Extension Levels Guide

Metals Fibonacci Extension Metal Trading Indicator Explained - Metals Fibonacci Extension Levels Tutorial

From the Metals Trading Fibonacci Extension MT4 indicator examples above, after drawing this MT4 Metals Fibonacci Extension tool there are 2 levels that are used to explain the profit taking areas, these 2 Metals Fibonacci Extension levels are drawn represented as horizontal lines across the metals price chart marked as 61.8% Metal Fibo Extension Level & 100% Metals Fib Extension Level.