100.0 Oil Trading Fib Extension Level
We useFibo expansion areas to estimate where the oil trend movement will reach. There are 2 important Fibonacci expansion levels: 61.8% and 100.0% Oil Fibonacci Extension Levels, these are used for profit taking.
100.0 Oil Trading Fib Extension Level
100.0 Oil Fibonacci Extension Level is not oftenly used to set oil profit taking orders when trading using the Oil Fib Extension Oil Trading Crude Oil Indicator.
Most oil traders will use the 61.8% Oil Trading Fibonacci Extension level.
To draw Oil Trading Fib Extension levels on the oil chart we wait until the crude oil price retracement is complete and the crude oil price starts to move in original direction of the Oil Trading trend. Where the crude oil price retracement reaches is used as chart point 3. Oil Trading Fibo Extension Technical Indicator is drawn using 3 chart points as shown and illustrated on the trading example explained below of how to draw the Oil Fib Extension Tool.
The Fibonacci expansion example explained below shows the 3 Chart Points where the Fibonacci expansion technical indicator is plotted, marked as Chart point 1, Chart point 2 & Chart point 3.
Chart point 1 is where the oil trend started, Chart point 2 is where the oil trend pulled back and retraced & Chart point 3 is where the oil retracement reached as displayed on the Oil Fib Extension Technical Indicator Tool example explained below.
The First Oil Fib Extension Level is 61.8% Oil Fibonacci Extension Level & the second is 100.0 Oil Trading Fib Extension Level shown Below - These Oil Fib Extension Levels are Used by Oil Traders to Set Take Profit Oil Trading Orders
61.8% Oil Fib Extension and 100.0% Oil Trading Fib Extension Level Used to Set Take Profit Oil Trading Orders
Please note where these Oil Fib Extension levels are plotted - Oil Trading Fib Extension levels are plotted above Fibo indicator, these are the chart points where a trader will place the take-profit orders using these Oil Fibonacci Extension Levels - 100.0% Oil Trading Fib Extension Level is the second Fibo Level.
