61.8% Stocks Trading Fib Projection Level

We useFibonacci Projection levels to estimate where the stock trend movement will reach. There are Two important Fibonacci Projection levels: 61.8% & 100% Fib Projection Levels, these are used for profit taking.

61.8% Stocks Trading Fib Projection Level

61.8 Stock Trading Fib Projection Level is the most commonly used stock profit taking level when trading using the Fib Projection Technical Indicator.

To draw Fibonacci Projection levels on stock chart we wait until the stocks price retracement is complete and the stocks price starts to move in the original direction of the Stock trend. Where the stocks price retracement reaches is used as chart point 3. Fib Projection Technical Indicator is plotted using 3 chart points as illustrated and shown on stocks trading example illustrated & explained below of how to plot the Fib Projection Indicator Tool.

The Fib Projection examples explained below shows the Three Chart Points where the Fib Projection indicator is drawn, marked as Chart point 1, Chart point 2 and Chart point 3.

Chart point 1 is where the stock trend started, Chart point 2 is where the stock trend pulled back & retraced and Chart point 3 is where the stock retracement reached as displayed on the Fib Projection Technical Indicator Tool examples illustrated and described below.

The First Fib Projection Level is the 61.8 Stock Trading Fib Projection Level displayed Below Used to Set Take Profit Stock Orders

Fibo Projection Level is the 61.8 Stock Trading Fib Projection Level displayed Below Used to Set Take Profit Stock Orders

Please note where these Fibonacci Projection areas are drawn - Fib Projection levels are plotted above the Fibo indicator, these are the chart points where a trader will place the takeprofit orders using these Fibonacci Projection Levels - 61.8% Fibonacci Projection Areas.