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Fibonacci XAUUSD Exercises

These exercises will give more examples on retracement and expansion. The first exercise is to figure out the direction of the XAUUSD trend and then determine if the Fibonacci tool used is retracement or expansion and then figure how it is drawn then practice drawing them on a xauusd chart.

Tasks:

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

To find a xauusd chart just Download MetaTrader 4 trading platform from any one of the many xauusd brokers.

After you have downloaded MetaTrader 4, Go to the menu "insert" at the top left corner, on the drop down menu, click Fibonacci and select either the option of retracement or expansion. Then draw it as explained in the previous lessons of Expansion and retracement. Then do the following exercises:

Retracements and Expansions Exercise

Exercises 1:

Fibonacci retracement on gold Chart - Fibonacci Expansion Levels and Fibonacci Retracement Exercise - Fib Technical Indicator Exercises - How Do You Use Fibonacci Retracement Indicator?

Exercises 2:

Fibonacci retracement on xauusd down trend - Fibonacci Expansion Levels and Fibonacci Retracement Levels Exercise - XAUUSD Trading Fibonacci Retracement and Extension XAUUSD Trading Strategies

Exercises 3:

Fibonacci retracement on xauusd downward trend - Fib Expansions Levels and Fibonacci Retracement Exercise - How Do You Interpret Fibonacci Retracement Levels XAUUSD Trading Technical Analysis?

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Exercises 4:

Fib retracement Trading - Fibonacci Expansion and Fibonacci Retracement Exercise - How Do You Interpret XAUUSD Fibonacci Retracement XAUUSD Trading Indicator in MT4 Platform for XAUUSD Trading?

Exercises 5:

Fibonacci expansion on gold Chart - Fibonacci Indicator Exercises - How to Place Trading Fibonacci Extension Levels Technical Indicator on MetaTrader 5 Trading Platform

Hint: point 1 to point 2 follows the xauusd trend direction

Hint: Retracement has points 1 and 2

Hint: Expansion has point 1, 2 and 3


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