61.8 % Fibonacci Expansion Level

We use Fibonacci expansion levels to estimate where the market trend price move will reach. There are two important Fibonacci expansion levels: 61.8% Fib Expansion Level & 100% Fib Expansion Level - these fibonacci expansion levels are used for setting xauusd taking profit orders.

61.8 Fib Expansion Level

61.8 Fib Expansion Level is the most commonly used xauusd profit taking level when trading using the Fibo Expansion Indicator.

To draw Fibonacci Expansion levels on the chart we wait til the price retracement is complete and price begins heading in original direction of trend. Where the price pull back gets-to is used as point 3. Fib Expansion Indicator is drawn using three chart points as displayed on the examples displayed below of how to draw the Fibo Expansion Levels IndicatorTool.

The Fibo expansion example illustrated & shown below shows the 3 Chart Points where the Fibo expansion indicator is drawn - marked as Chart point 1, Chart point two and Chart point 3.

XAUUSD Chart point 1 is where trend started, Chart point 2 is where the price pulled back & retraced - Chart point 3 is where the price retracement reached as displayed on the Fibo Expansion Levels Indicator Tool example illustrated below.

The First Fibonacci Expansion Level is the 61.8 Fib Expansion Level pictured on the Fibo Expansion indicator example Below Used to Set Take Profit Orders

How to Read 61.8% Fib Expansion Level

Please note where these Fibo Expansion areas are plotted on the chart - Fibo Expansion zones are drawn above the Fibo Expansion indicator tool - these are the chart levels where a trader will place the take-profit orders using these Fibonacci Expansion Levels - 61.8% Fib Expansion Levels.

Interpret 61.8% Fib Expansion Level?