How to Draw Metal Trading Fibonacci Expansion

How Do I Use Metal Trading Fibonacci Expansion Levels Metals Indicator on Metal Chart?

We use Metals Trading Fibo Expansion levels to estimate where the metals trend movement will reach. There are Two important Metals Trading Fibonacci Expansion levels: 61.80% and 100% Metals Trading Fibo Expansion Levels, these are used for taking profit.

To draw Metals Trading Fibonacci Expansion 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 Trading Fibonacci Expansion Trading Indicator is drawn using 3 chart points as shown on the metal trading example illustrated & explained below of how to draw the Metals Trading Fibonacci Expansion Technical Indicator.

The Metals Fibonacci Expansion examples illustrated and explained below shows the Three Chart Points where the Metals Trading Fibonacci Expansion 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 Fibonacci Expansion Indicator Tool examples illustrated and described below.

How to Trade With Metals Trading Fibonacci Expansion - How to Draw Metals Fib Expansion Zones Technical Indicator on Metals Charts

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

Drawing Metal Fibo Expansion Zones Technical Indicator on an Upwards Metal Trend

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

On the Metals Trading Fibonacci Expansion indicator example illustrated and explained below you can see that the Metals Fibonacci Expansion tool is drawn along the direction of the metals trend, since the metals trend is upward - the Metals Trading Fibonacci Expansion indicator is drawn upwards.

These Metals Trading Fibo Expansion levels are displayed as horizontal lines above the Metals Trading Fibonacci Expansion indicator, showing the profit-taking areas. In the metal trading examples illustrated and described below if you had used the 100.00% Metals Trading Fibonacci Expansion level you would have made nice profit from the trade setup.

Drawing Metals Trading Fibonacci Expansion Indicator on an Upwards Metals Trend - Metals Trading Fibo Expansion Trading Tool

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

Drawing Metal Trading Fibonacci Expansion Levels Metal Technical Indicator on a Downward Metal Trend

Since we use the Metals Trading Fibonacci Expansion indicator tool to estimate take profit levels, how do we draw Metals Trading Fibonacci Expansion in downwards Metals trend?

We draw the Metals Trading Fibonacci Expansion tool from chart point 1 to chart point 2 to chart point Three as shown on the metal trading examples illustrated and described below. Remember we always draw this Metals Fibo Expansion tool in the direction of the metal trend. In the Metals Trading Fibonacci Expansion 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 Trading Fibonacci Expansion indicator above and how Metals Trading Fibonacci Expansion indicator is drawn below. This time you would also have used Metals Trading Fibonacci Expansion level 100.0%, just where the metals price reached as illustrated on the metal trading examples illustrated and explained below. That would have been a good take profit area.

Drawing Metals Trading Fibonacci Expansion Trading Indicator on a Downwards Metals Trend - Metals Trading Fibo Expansion Trading Tool

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