How to Trade 61.8 CFD Fib Expansion Level

We useFibonacci expansion levels to estimate where the market trend movement will reach. There are Two important Fibo expansion levels: 61.8% and 100% CFD Fibonacci Expansion Areas, these are used for taking profit.

61.8% CFD Fibonacci Expansion Level

61.8 CFD Fib Expansion Level is the most commonly used cfd profit taking level when trading using the CFD Fibonacci Expansion Technical Indicator.

To draw CFD Fibonacci Expansion levels on the cfds chart we wait until the cfd price retracement is complete & the price starts to move in original direction of the CFD trend. Where the cfd price retracement reaches is used as chart point 3. CFD Fibo Expansion Technical Indicator is drawn using three chart points as shown on the cfd example explained below of how to draw the CFD Fib Expansion Technical Indicator Tool.

The Fibonacci expansion examples shown & illustrated below shows the Three Chart Points where the Fib expansion technical indicator is plotted, marked as Chart point 1, Chart point 2 & Chart point 3.

Chart point 1 is where the cfd trend started, Chart point 2 is where the cfd trend pulled back & retraced and Chart point 3 is where the cfd retracement reached as shown on the CFD Fibo Expansion Indicator Tool example illustrated below.

The First CFD Fibonacci Expansion Level is the 61.8 CFD Fibonacci Expansion Level illustrated Below Used to Set Take Profit CFD Orders

CFD Fibonacci Expansion Level is the 61.8 CFD Fibonacci Expansion Level illustrated Below Used to Set Take Profit CFD Orders

Please note where these CFD Fib Expansion zones are drawn - CFD Fibonacci Expansion zones are plotted above the Fibonacci technical indicator, these are the chart points where one will set the take profit orders using these CFD Fibonacci Expansion Levels - 61.8% CFD Fibo Expansion Areas.