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Fibonacci Forex Exercises - Fibonacci Expansion Levels Exercise and Fibonacci Retracement Exercise

These fibonacci indicator exercises will give more examples on Fibonacci Retracement and Fibonacci Expansion. The first exercise is to figure out the direction of the Forex trend and then determine if the Fibonacci tool used is Fibonacci Retracement or Fibonacci Expansion and then figure how it is drawn then practice drawing Fibonacci Retracement levels and Fibonacci Expansion levels on a forex chart.

Tasks:

  1. Figure out the direction of the Forex trend
  2. Determine if the Fibonacci is Fibonacci Retracement or Fibonacci Expansion
  3. Figure how it is drawn
  4. Practice drawing Fibonacci Retracement or Fibonacci Expansion on a forex chart.

To find a Forex trading chart just Download MetaTrader 4 forex trading platform from any one of the many forex 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 the indicator tool as explained in the previous lessons of Fibonacci Retracement and Fibonacci Expansion. Then do the following exercises:

Fibonacci Retracements and Fibonacci Expansions Exercise

Exercises 1:

Fibonacci Retracement Levels on Forex Chart - How Do I Identify Fibonacci Retracement Levels in Forex Charts Technical Analysis?

Exercises 2:

Fibonacci Retracement Levels on Forex Down Trend - Fibonacci Expansion Levels Exercise and Fibonacci Retracement Levels Exercise - How to Identify Fibonacci Expansion Levels Trading Setups in Charts Technical Analysis

Exercises 3:

Fibonacci Retracement on Forex Downtrend - Fibonacci Expansion Exercise and Fibonacci Retracement Exercise - How Do I Identify Fibonacci Expansion Levels Trading Setups in Charts Technical Analysis?

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Exercises 4:

Fib Expansion on Forex Chart - Fibonacci Expansion Exercise and Fibonacci Retracement Levels Exercise - How Do I Identify Fibonacci Expansion Levels Patterns in Charts Technical Analysis?

Exercises 5:

Fibonacci Expansion on Forex Chart - How to Identify Fibonacci Expansion Levels in Forex Charts Technical Analysis

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

Hint: Fibonacci Retracement has points 1 and 2

Hint: Fibonacci Expansion has point 1, 2 and 3


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