Fibonacci Indices Exercises

These exercises will give more examples on retracement and expansion. The first exercise is to determine the direction of the trend and then determine if the Fibo indicator used is Fibo retracement or expansion & then figure how it's drawn then practice drawing them on a chart.

Tasks:

1. Figure out the direction of the trend
2. Determine if Fibonacci is retracement or expansion
3. Figure-out how it is drawn
4. Practice drawing retracement or expansion on a chart.

To find a chart just Download MT4 trading software from any one of the many trading brokers.

After you've downloaded MetaTrader 4, Navigate to the menu "insert" at the tops left corner, on the dropdown menu, click Fibo & choose either the option of retracement or expansion. Then plot it as explained in the previous tutorials of Expansion and retracement. Then do the following exercises:

Retracements & Expansions levels Exercise

Exercises 1:

Exercises 2:

Exercises 3:

Exercises 4:

Exercises 5:

Hint: point 1 to point 2 follows the trend direction

Hint: Fib Retracement has points 1 and 2

Hint: Fib Expansion has point 1, 2 & 3