How to Analyze 61.8 Indices Trading Fibonacci Extension Level
We useIndices Trading Fibonacci Extensionlevels to estimate where the indices trend movement will reach. There are 2 important Indices Trading Fibonacci Extension levels; 61.8% and 100% Indices Trading Fibonacci Extension Levels, these are used for taking profit.
61.8 Indices Trading Fib Extension Level
61.8 Indices Trading Fib Extension Level is the most commonly used indices trading profit taking level when trading using the Indices Trading Fibonacci Extension Indicator.
To draw Indices Trading Fibonacci Extension levels on the stock indices chart we wait until the stock indexes price retracement is complete and the stock indexes price starts to move in the original direction of the Indices trend. Where the stock indexes price retracement reaches is used as chart point 3. Indices Trading Fibonacci Extension Indicator is drawn using three chart points as shown on the stock indexes trading example explained and illustrated below of how to draw the Indices Trading Fibonacci Extension Indicator Tool.
The Indices Trading Fibonacci Extension example explained and illustrated below shows the 3 Chart Points where the Indices Trading Fibonacci Extension indicator is drawn, marked as Chart point 1, Chart point 2 and Chart point 3.
Chart point 1 is where the indices trend started, Chart point 2 is where the indices trend pulled back and retraced and Chart point 3 is where the stock indices retracement reached as shown on the Indices Trading Fibonacci Extension Indicator Tool example explained and illustrated below.
The First Indices Trading Fibonacci Extension Level is the 61.8 Indices Trading Fib Extension Level shown Below Used to Set Take Profit Indices Trading Orders
Indices Trading Fibonacci Extension Level is the 61.8 Indices Trading Fib Extension Level shown Below Used to Set Take Profit Indices Trading Orders
Please note where these Indices Trading Fibonacci Extension levels are drawn - Indices Trading Fibonacci Extension levels are drawn above the Fibonacci indicator, these are the chart points where a indices trader will set the take profit orders using these Indices Trading Fibonacci Extension Levels - 61.8% Indices Trading Fibonacci Extension Levels.
