100.0 Fibonacci Extension Level
We use Fibonacci extension levels to estimate where the trend movement will reach. There are 2 important Fibonacci extension levels: 61.8% Fibonacci Extension Level and 100.0% Fibonacci Extension Level, these forex fibonacci extension levels are used for setting forex trading taking profit orders.
100.0% FX Trading Fib Extension Level
100.0 Fibonacci Extension Level is not commonly used to set forex profit taking orders when forex trading using the Fibo Extension Technical Indicator.
Most forex traders will use the 61.8% Fibonacci Extension level.
To draw Fibonacci Extension levels indicator on the forex chart we wait until the forex price retracement is complete & the price starts to move in original direction of the trend. Where the forex price retracement reaches is used as chart point 3. Fibonacci Extension Indicator is drawn using 3 chart points as illustrated on the Fibonacci Extension indicator example below of how to draw the Fibonacci Extension Levels Indicator.
The Fibonacci extension indicator example shown below the 3 Forex Chart Points where the Fibonacci extension indicator is drawn - marked as Forex Chart point 1, Forex Chart point 2 & Forex Chart point 3.
Forex Chart point 1 is where the forex trend started, Forex Chart point 2 is where the price pulled back & retraced & Forex Chart point 3 is where the forex retracement reached as displayed on the Fibonacci Extension Levels Indicator example shown below.
The First Fibonacci Extension Level is the 61.8% Fibonacci Extension Level and the second is 100.0 Fibonacci Extension Level shown on the Fibonacci Extension indicator Below - These Fibonacci Extension Levels are Used by Forex Traders to Set Take Profit Orders
How Do I Read 100.0% Fibonacci Extension Level?
Please note where these Fibonacci Extension levels are plotted on the forex chart - Fibonacci Extension zones are plotted above the Fibo Extension indicator, these are the chart points where one will set forex take profit orders using these Fibonacci Extension Levels - 100.0% Fibonacci Extension Level is the second Fibonacci Level.
How Do I Read 100.0% Fibonacci Extension Level? - How Do I Analyze 100.0% Fibonacci Extension Level?
