61.8 Stocks Fib Expansion Level

We useFibo expansion areas to estimate where the market trend movement will reach. There are 2 important Fibo expansion areas: 61.8% and 100% Stocks Fibo Expansion Levels, these are used for taking profit.

61.8 Stocks Fib Expansion Level

61.8 Stocks Fib Expansion Level is the most commonly used stocks profit taking level when trading using the Fibonacci Expansion Technical Indicator.

To draw Stocks Fibonacci Expansion levels on the stock chart we wait until the stocks price retracement is complete and the price starts to move in original direction of the Stocks trend. Where the stocks price retracement reaches is used as chart point 3. Stocks Fibo Expansion Technical Indicator is plotted using 3 chart points as shown on the stocks example illustrated and explained below of how to plot the Stocks Fib Expansion Technical Indicator Tool.

The Fib expansion examples described below shows the Three 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 stocks trend started, Chart point 2 is where the stocks trend pulled back & retraced & Chart point 3 is where the stocks retracement reached as shown on the Stocks Fibonacci Expansion Indicator Tool examples illustrated & described below.

The First Stocks Fibo Expansion Level is the 61.8 Stocks Fibonacci Expansion Level illustrated Below Used to Set Take Profit Stocks Orders

Stocks Fibo Expansion Level is the 61.8 Stocks Fibonacci Expansion Level illustrated Below Used to Set Take Profit Stocks Orders

Please note where these Stocks Fib Expansion zones are plotted - Stocks Fibo Expansion zones are plotted above the Fibonacci technical indicator, these are chart points where a trader will place the take profit orders using these Stocks Fibonacci Expansion Levels - 61.8% Stocks Fibonacci Expansion Levels.