Fibonacci Exercises - Fibonacci Expansions Exercise and Fibonacci Retracement Exercise

These Fibonacci indicator exercises will give more examples on Fibo Retracement and Fibonacci Expansion. The first exercise is to figure-out direction of the 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 zones and Fibo Expansion levels on a chart.

Tasks:

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

To access a chart, simply download the MetaTrader 4 software from one of the many brokers available.

After you have downloaded MetaTrader 4, Go to the menu "insert" at the tops left corner, on the drop-down menu, click Fibo and choose and select either the option/choice of Retracement or Expansion. Then draw the indicator tool as expounded in the previous lessons of Fibonacci Retracement and Fibonacci Expansion. Then do the following exercises:

Fibonacci Retracements and Fibonacci Expansions Exercise

Training Exercises 1:

Exercises 2:

Exercises 3:

Exercises 4:

Exercises 5:

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

Hint: Fibonacci Retracement has points 1 and 2

Hint: Fibonacci Expansion has point 1, 2 & 3

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