How to Analyze 100.0 Fibonacci Commodity Trading Projection Level
We useFibonacci expansion areas to estimate where the trend movement will reach. There are Two important Fibonacci expansion areas: 61.8% & 100.0% Fibo Projection Areas, these are used for taking profit.
100.0% Commodity Trading Fib Projection Level
100.0 Commodity Trading Fib Projection Level is not commonly used to set commodity trading profit-taking orders when trading using the Fibo Projection Technical Indicator.
Most commodity traders will use the 61.8% Fib Projection level.
To draw Fib Projection levels on the commodity chart we wait until the commodity price retracement is complete & the price starts to move in the original direction of the Commodity Trading trend. Where the commodity price retracement reaches is used as chart point 3. Fib Projection Technical Indicator is plotted using 3 chart points as shown on the trading example illustrated and shown below of how to plot the Fibo Projection Technical Indicator.
The Fibo expansion example illustrated and displayed below shows the Three Chart Points where the Fibo expansion technical indicator is plotted, marked as Chart point 1, Chart point 2 & Chart point 3.
Chart point 1 is where the commodity trend started, Chart point 2 is where the commodity trend pulled back & retraced and Chart point 3 is where the commodity retracement reached as displayed on the Fibo Projection Indicator examples illustrated and shown below.
The First Fib Projection Level is the 61.80% Commodity Trading Fib Projection Level & the second is 100.0 Commodity Trading Fib Projection Level shown Below - These Fibonacci Projection Levels are Used by Commodity Traders to Set Take Profit Commodity Trading Orders
61.8% Commodity Trading Fib Projection & 100.0% Commodity Trading Fib Projection Level Used to Set Take Profit Commodity Trading Orders
Please note where these Fibo Projection areas are plotted - Fib Projection levels are drawn above the Fibo technical indicator, these are chart points where one will place the take-profit orders using these Fibonacci Projection Levels - 100.0% Fibonacci Projection Level is the second Fibonacci Level.
