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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 trading 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 on Forex Trading Chart - How to Identify Fibonacci Retracement Levels in Forex Charts Technical Analysis - Fibonacci Expansion Levels Exercise and Fibonacci Retracement Exercise - How to Identify Fibonacci Retracement Patterns in Forex Charts Technical Analysis



Exercises 2:

Fibonacci Retracement on Forex Down Trend - How Do You Place Fibonacci Retracement Levels Forex Trading Indicator on a Forex Downward Trend? - Fib Retracement Levels on Down Forex Trend - Fibonacci Expansion Levels Exercise and Fibonacci Retracement Exercise - How to Identify Fibonacci Retracement Patterns in Forex Trading Technical Charts Analysis



Exercises 3:

Fibonacci Retracement on Forex Downtrend - Fibonacci Expansion Levels Exercise and Fibonacci Retracement Levels Exercise - How to Identify Fibonacci Retracement Setups in Forex Trading Charts Analysis Tutorial



Exercises 4:

Fibonacci Expansion Levels Forex Indicator on Forex Trading Chart - Fibonacci Expansion Levels Exercise and Fibonacci Retracement Levels Forex Exercise - How to Identify Fibonacci Retracement Patterns in Forex Trading Charts



Exercises 5:

Fibonacci Expansion on Forex Chart - How to Identify Fibonacci Expansion Levels in Forex Charts Technical Analysis - Fibonacci Expansion Levels Exercise and Fibonacci Retracement Exercise - How to Identify Fibonacci Retracement Patterns in Forex Charts 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


 

Technical Analysis