Metal Trading Fibonacci Strategy

We use Metals Fibo Extension Zones to estimate where the metals trend movement will reach. There are Two important Metals Fibo Extension areas: 61.80% & 100% Metals Fibo Extension Areas, these are used for taking profit.

To draw Metals Fibonacci Extension levels on MT4 metal 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 Fibo Extension MT4 Technical Indicator is drawn using three chart points as shown on the metal examples illustrated & described below of how to draw the Metals Fibo Extension Technical Indicator MetaTrader 4 Tool.

The Metals Trading Fibonacci Extension MetaTrader 4 Technical Indicator example illustrated and described below shows the 3 Chart Points where the Metals Trading Fibonacci Extension MetaTrader 4 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 & retraced & Chart point 3 is where the metals retracement reached as shown on the Metals Trading Fibonacci Extension MetaTrader 4 Technical Indicator Tool examples illustrated & described below.

Metals Fibonacci Extension Strategy

Metals Fibonacci Extension Trading Strategy - Metals Trading Fibonacci Trading Strategy - Metals Fibonacci Extension Strategy

Please note where these Metals Fib Extension levels are plotted - Metals Fibo Extension levels 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 Areas Trading Strategy - Metals Trading Fibonacci Trading Strategy - Metals Fibonacci Extension Strategy

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

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

These Metals Fibo Extension zones are shown as horizontal lines above the Metals Trading Fibonacci Extension MetaTrader 4 metals technical technical indicator, showing the profit-taking areas. In the metal examples illustrated & described below if you had used 100.0% Metals Fibo Extension level the you would have made good profit from this trading setup.

Upward Metals Trend - Metals Fibonacci Extension Strategy

Metals Trading Fib Trading Strategy - Metals Trading Fib Extension Strategy

From the above Metals Trading Fibonacci Extension MetaTrader 4 indicator examples, the upwards metals trend continued & both 61.80% & 100.0% Metals Fibo Extension zones were all hit after which metals price retraced again after getting to the 100.0% Metals Trading Fibo Extension level.

Metal Fibonacci Extension Strategy

Since we use the Metals Trading Fibonacci Extension MetaTrader 4 metals 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 MetaTrader 4 metals tool from chart point 1 to chart point 2 to chart point 3 as shown on the metal examples illustrated & described below. Remember we always plot this Metals Trading Fibonacci Extension MetaTrader 4 metals tool in the direction of the metal trend. In the Metals Fibonacci Extension example illustrated and explained below, can you figure what is the direction that we have drawn it? That's right - downwards direction.

Try & spot the difference between how we have plotted Metals Fibo Extension technical indicator above & how Metals Fibo Extension technical indicator is plotted 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.

Downward Metals Trend - Metals Fibonacci Extension Strategy

Metal Trading Fibonacci Trading Strategy - Metal Fibonacci Extension Strategy

From the Metals Trading Fibonacci Extension MetaTrader 4 indicator example above, after drawing this MT4 Metals Fibonacci Extension tool there are 2 levels which are used to explain the profit taking areas, these 2 Metals Fibonacci Extension levels are plotted represented as horizontal lines across the metals price chart marked as 61.8% Metals Fibo Extension Level & 100% Metals Fib Extension Level.