61.8 Stocks Fib Extension Level

We useStocks Fibo Extension Levels to estimate where the trend movement will reach. There are Two important Stocks Fibonacci Extension levels: 61.80% and 100% Stocks Fibo Extension Areas, these are used for taking profit.

61.8 Stocks Fibonacci Extension Level

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

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

The Stocks Fibonacci Extension example illustrated and explained below shows the 3 Chart Points where the Stocks Fibonacci Extension indicator is drawn, marked as Chart point 1, Chart point 2 and Chart point 3.

Chart point 1 is where the stocks trend started, Chart point 2 is where the stocks trend pulled back and retraced & Chart point 3 is where the stocks retracement reached as displayed on the Stocks Fibonacci Extension Technical Indicator Tool example illustrated & explained below.

The First Stocks Fib Extension Level is the 61.8 Stocks Fib Extension Level displayed Below Used to Set Take Profit Stocks Orders

Stocks Fib Extension Level is the 61.8 Stocks Fib Extension Level displayed Below Used to Set Take Profit Stocks Orders

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