Trade Bitcoin Trading

How to Use Fibo Extension Levels

We use Fib Expansion Levels to try to project where the bitcoin crypto trend movement will get to and reach. There are Two crucial Fibo Extension areas: 61.80 % and 100 % Fibonacci Expansion Areas, these are used for taking profit.

To draw Fibo Extension levels in MT4 btcusd chart we wait til the bitcoin price retracement is complete and the bitcoin price starts to move in the original and initial direction of the Bitcoin trend. Where the btcusd crypto price pull-back gets to is used as point 3. Fibo Extension MT4 Indicator is plotted using 3 chart points just as shown on the cryptocurrency example illustrated below of how to draw the Fibonacci Expansion Indicator MetaTrader 4 Tool.

The Fibonacci Extension MT4 Trading Indicator illustration illustrated below illustrates the 3 Points where the Fibonacci Extension MT4 bitcoin technical indicator is plotted, labeled as Point 1, Chart point 2 and Chart point 3.

Point 1 is where btcusd crypto trend started, Point 2 is where btcusd crypto trend pulled back & retraced & Chart point 3 is where the cryptocurrency retracement reached just as is shown & displayed on the Fibonacci Extension MT4 Indicator Tool example shown below.

How Do I Use Fibonacci Extension Levels

How Do I Use Fibonacci Extension? - How Do You Use Fibo Extension Levels? - Fibonacci Extensions Tutorial

How Do I Use Fibonacci Expansion Levels - Fibonacci Extension Lesson Tutorial

Please note where these Fibonacci Expansion levels are plotted - Fib Expansion levels are drawn above the MT4 Fibonacci indicator, these are the chart levels where a btc usd trader will set the takeprofit orders using these Fib Extensions - 61.80% and 100.00% Fibo Extension Areas.

Upward Bitcoin Trend - How to Use Fibonacci Extension in Bitcoin Guide - How to Use Fibo Expansion Levels - Fibo Extension Lesson Tutorial

We use Fib Expansion Levels to try to project where the btcusd crypto trend movement will get to and reach. There are Two crucial Fibo Extension areas: 61.80 % BTCUSD Fibonacci Expansion Level and 100 % Fibonacci Expansion Level, these Fibonacci Expansion Areas are used for taking and booking profit.

On the Fibonacci Extension MT4 indicator example illustrated below you can see that the Fibonacci Extension MT4 technical indicator is plotted along the direction of the btcusd crypto trend, since the bitcoin trend is upward - MetaTrader 4 Fibo Extension indicator is plotted upward.

These Fibonacci Extension levels are listed as horizontal lines above the Fibo Extension MT4 bitcoin indicator, showing the taking profit zones. In the cryptocurrency example illustrated below if you had used of 100.00% Fibo Extension level the you would have made good profit from this setup.

How to Use Fibonacci Extension in BTCUSD Guide Tutorial - How Do I Use Fibonacci Extensions? - Fibonacci Extension PDF

How Do You Use Fibo Extension in Crypto Currency Lesson - How to Use Fib Expansion Levels

How to Use Fibonacci Extension Levels - Fibonacci Expansion Lesson

From the above Fibonacci Extension MT4 indicator illustration, the upwards bitcoin trend continued and both 61.80% and 100.0 % Fibo Extension levels were all hit after which bitcoin price retraced again after getting to the 100.0% Fibonacci Extension level.

How to Use Fibo Extension in Bitcoin Lesson

Since we use the Fibonacci Extension MT4 tool to estimate/gauge take-profit levels, how do we draw MT4 Fibo Extension in a downward trend?

We draw the Fibonacci Extension MT4 tool from chart point 1 to chart point 2 to chart point 3 just as shown on the cryptocurrency example shown below. Remember we always draw this Fibonacci Extension MT4 tool in direction of the cryptocurrency trend. In the Fibonacci Expansion example illustrated below, can you figure out what is the direction which we have drawn it? That's right - downward direction.

Try & identify the difference between how we have plotted Fibonacci Expansion indicator above and how Fibonacci Expansion indicator is drawn below. This time you would also have used Fibo Extension area 100.00%, just where the btcusd crypto currency price reached such as shown on the crypto example shown below. That would have been a nice area for profit booking.

How to Use Fibo Extension in Bitcoin Course - How to Use Fibo Expansion Levels - Fibonacci Extension Tutorial

How Do You Use Fibo Extension in Crypto Currency Lesson - How to Use Fib Expansion Levels

How to Use Fibonacci Expansion Levels - Fibonacci Expansion Lesson

From the Fibonacci Extension MetaTrader 4 trading indicator exemplification above, after plotting this MT4 Fibo Extension tool there are 2 levels that are used to show and illustrate the taking and booking profit zones, these 2 Fibo Extension levels are drawn as horizontal lines across the btcusd price chart marked and labeled as 61.80 % BTCUSD Fib Expansion Level & 100 % Fib Expansion Level.

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