Trade Stock Indices

Fib 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 trading chart.

Tasks:

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

To find a chart just Download MetaTrader 4 trading software from any one of the many trading online 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 expounded in the previous tutorials of Expansion and retracement. Then do the following exercises:

Retracements & Expansions levels Exercise

Exercises 1:

Fibonacci retracement on Chart - Fibonacci Retracement Levels vs Expansion

Exercises 2:

Fibonacci retracement on indices trading down trend - Fibonacci Expansion and Fibo Retracement Levels Exercise

Exercises 3:

Fibonacci retracement on downward trend - Fibonacci Retracement Levels vs Expansion

Exercises 4:

Fibonacci retracement Trading - Fib Retracements vs Expansion

Exercises 5:

Fibonacci expansion on Chart - Fibonacci Expansion and Fibo Retracement Exercise

Hint: point 1 to point 2 follows the trend direction

Hint: Fib Retracement has points 1 and 2

Hint: Fibonacci Expansion has point 1, 2 and 3

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