Fibonacci Forex 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 Forex trend and then determine if the Fibonacci tool used is Fib Retracement or Fibonacci Expansion and then figure how it is drawn then practice drawing Fib Retracement zones and Fibonacci Expansion levels on a chart.

Tasks:

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

To find a chart just Download MetaTrader 4 forex software from any one of the many brokers.

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

Fibonacci Retracements and Fibonacci Expansions Exercise

Exercises 1:

Exercises 2:

Exercises 3:

Exercises 4:

Exercises 5:

Hint: point 1 to point 2 follows the trend direction

Hint: Fibonacci Retracement has points 1 and 2

Hint: Fibonacci Expansion has point 1, 2 and 3