100.0 FX Fibo Projection Level
We use Fibonacci projection levels to estimate where the market trend movement will get to. There are 2 important Fibonacci projection levels: 61.8% Fibonacci Projection Level and 100.0% Fibonacci Projection Level, these forex fibonacci projection levels are used for setting forex taking profit orders.
100.0% FX Fibo Projection Level
100.0 Fib Projection Level isn't oftenly used to set forex profit booking orders when forex trading using the Fib Projection Tool.
Most traders will use the 61.8% Fibo Projection level.
To draw Fibo Projection levels trading tool on the chart we wait til the price retracement is complete and price starts heading in original direction of market trend. Where the price pullback gets-to is used as point 3. Fib Projection Tool is drawn using three chart points as shown on the Fib Projection tool example below of how to plot the Fib Projection Levels Forex Tool.
The Fib projection tool example below shows the 3 Chart Points where the Fib projection tool is plotted - highlighted as Forex Chart point 1, Forex Chart point 2 and FX Chart point 3.
Forex Point 1 is where trend started, Forex Chart point 2 is where price pulled back & retraced and Forex Point 3 is where retracement reached as illustrated on the Fib Projection Levels Forex Tool example below.
The First Fib Projection Level is the 61.80% Fib Projection Level & the second is 100.0 Fib Projection Level displayed on the Fibo Projection tool Below - These Fib Projection Levels are Used by Traders to Set TP Orders
How Do I Read 100.0% Fib Projection Level?
Please note where these Fib Projection areas are plotted on the chart - Fib Projection zones are plotted above the Fibo Projection tool, these are the chart areas where a trader will place the take-profit orders using these fibonacci Projection Levels - 100.0% Fibonacci Projection Level is the second Fib Level.
How Do I Read 100.0% Fib Projection Level? - How Do I Analyze 100.0% Fib Projection Level?
