100.0% XAUUSD Trading Fib Extension Level
We use Fibonacci extension levels to estimate where the trend movement will reach. There are Two important Fibonacci extension levels: 61.8% Fibonacci Extension Level and 100.0% Fib Extension Level, these xauusd trading fibonacci extension levels are used for setting xauusd taking profit orders.
100.0% XAUUSD Trading Fib Extension Level
100.0 Fibonacci Extension Level is not commonly used to set xauusd profit taking orders when xauusd using the Fibonacci Extension Technical Indicator.
Most xauusd traders will use the 61.8% Fibonacci Extension level.
To draw Fibonacci Extension levels gold technical indicator on the xauusd chart we wait until the gold price retracement is complete & the price starts to move in original direction of the trend. Where the gold price retracement reaches is used as chart point 3. Fibonacci Extension XAUUSD Indicator is drawn using three chart points as shown on the Fibonacci Extension indicator examples displayed below of how to draw the Fibonacci Extension Levels Indicator.
The Fibonacci extension indicator example shown below the 3 XAUUSD Chart Points where the Fibonacci extension indicator is drawn - marked as XAUUSD Chart point 1, XAUUSD Chart point 2 and XAUUSD Chart point 3.
XAUUSD Chart point 1 is where the xauusd trend started, XAUUSD Chart point 2 is where the price pulled back and retraced and XAUUSD Chart point 3 is where the xauusd retracement reached as displayed on the Fibonacci Extension Levels Gold Indicator example shown below.
The First Fibonacci Extension Level is the 61.8% Fibonacci Extension Level and the second is 100.0 Fibonacci Extension Level shown on the Fibonacci Extension indicator Below - These Fibonacci Extension Levels are Used by XAUUSD Traders to Set Take Profit XAUUSD Orders
How to Read 100.0% Fibonacci Extension Level
Please note where these Fibonacci Extension levels are plotted on the xauusd chart - Fib Extension zones are drawn above the Fibonacci Extension technical indicator, these are the chart points where a trader will set the xauusd take-profit orders using these Fibonacci Extension Levels - 100.0% Fibonacci Extension Level is the second Fibonacci Level.
Interpret 100.00% Fibonacci Extension Level?
