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How to Draw Indices Trading Fibonacci Expansion Indicator Tool on Upwards Indices Trend


How Do I Draw Indices Trading Fibonacci Expansion for Indices Trading Uptrend?

We use Indices Trading Fibonacci Expansionlevels to estimate where the indices trend movement will reach. There are 2 commonly used Indices Trading Fibonacci Expansion levels; 61.8% Indices Trading Fibonacci Expansion Level and 100% Indices Trading Fibonacci Expansion Level, these Indices Trading Fibonacci Expansion Levels are used for setting take profit levels.


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


These Indices Trading Fibonacci Expansion levels are displayed as horizontal lines above the Indices Trading Fibonacci Expansion indicator, showing profit taking areas. In the stock indexes trading example explained and illustrated below if you had used of 100.0% Indices Trading Fibonacci Expansion level you would have made nice profit from the trade setup.


How to Draw Indices Trading Fibonacci Expansion on Up Indices Trend

How to Draw Indices Trading Fibonacci Expansion on Up Indices Trend


From the above Indices Trading Fibonacci Expansion indicator tool example, the upward indices trend continued and both 61.8% and 100.0% Indices Trading Fibonacci Expansion levels were all hit after which the stock indexes price retraced again after getting to the 100.0% Indices Trading Fibonacci Expansion level.


From the Indices Trading Fibonacci Expansion indicator tool example above, after drawing this Indices Trading Fibonacci Expansion tool there are two levels that are used to show the profit taking areas, these two Indices Trading Fibonacci Expansion levels are drawn as horizontal lines across the stock indices chart marked as 61.8% Indices Trading Fibonacci Expansion Level and 100% Indices Trading Fibonacci Expansion Level.



Explanation of How To Draw Indices Trading Fibonacci Expansion Levels on Stock Indexes Charts

We use Indices Trading Fibonacci Expansionlevels to estimate where the indices trend movement will reach. There are 2 important Indices Trading Fibonacci Expansion levels; 61.8% and 100% Indices Trading Fibonacci Expansion Levels, these are used for taking profit.


To draw Indices Trading Fibonacci Expansion 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 Expansion 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 Expansion Indicator Tool.


The Indices Trading Fibonacci Expansion example explained and illustrated below shows the 3 Chart Points where the Indices Trading Fibonacci Expansion 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 Expansion Indicator Tool example explained and illustrated below.

How to Draw Indices Trading Fibonacci Expansion Indicator Tool on Upwards Indices Trend

How to Draw Indices Trading Fibonacci Expansion Indicator Tool on Upwards Indices Trend


Please note where these Indices Trading Fibonacci Expansion levels are drawn - Indices Trading Fibonacci Expansion 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 Expansion Levels - 61.8% and 100.0% Indices Trading Fibonacci Expansion Levels.

 

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