How Do You Analyze Oil Fibonacci Retracement vs Oil Trading Fibonacci Expansion?

How Do I Trade Oil Fibonacci Retracement vs Oil Trading Fibonacci Expansion?

Fibonacci retracement is drawn between 2 oil chart points but Fib expansion is plotted using Three oil trading chart points.

Oil Trading Fibonacci Retracement Technical Indicator example explained below - where the oil trend is moving downwards between Crude Oil Trading Chart point 1 & Crude Oil Trading Chart point 2 - then after Crude Oil Trading Chart point 2 the crude oil price retraces then it continues moving up in the original upward crude oil trend. Note that this Oil Trading Fibonacci Retracement Technical Indicator is drawn from Crude Oil Trading Chart point 1 to Crude Oil Trading Chart point 2 in the direction of the crude oil trend.

How Do You Analyze Oil Fibonacci Retracement vs Oil Trading Fibonacci Expansion?

Oil Trading Fib Expansion Levels

Fibonacci retracement oil indicator is drawn between 2 oil chart points but Fib expansion is plotted using Three oil trading chart points.

To draw these Oil Trading Fibonacci Expansion levels oil traders will wait until the crude oil price retracement is complete and the crude oil price starts to move in original direction of the crude oil trend. Where the crude oil price retracement reaches - this point is used as oil chart point 3 for Fibonacci expansion oil indicator.

The Oil Trading Fibonacci Expansion Indicator example explained below shows the 3 oil chart points where the Oil Trading Fibonacci Expansion Indicator is drawn, marked as oil chart point 1, 2 and 3. Crude Oil Chart point 1 is where the oil trend started, Crude Oil Trading Chart point 2 is where the crude oil price pulled back and retraced and Chart point 3 is where the crude oil price retracement reached as shown on the Oil Trading Fibonacci Expansion Indicator example explained below.

How Do You Trade Oil Fibonacci Retracement vs Oil Trading Fibonacci Expansion?

Please note where these Fibonacci expansion levels are drawn - Oil Trading Fibonacci Expansion zones are plotted above the Oil Fibonacci Expansion Indicator - these are the points where a trader will set oil take profit orders.

How Do You Trade Oil Fibonacci Retracement vs Oil Trading Fib Expansion