Trade Forex Trading

Learn Forex Trading

Fibonacci Forex Exercises

These exercises will give more examples on retracement and  expansion. The first exercise is to figure out the direction of the Forex trend and then determine if the Fibonacci tool used is retracement or expansion and then figure how it is drawn then practice drawing them on a chart.

 

Tasks:

  1. Figure out the direction of the Forex trend
  2. Determine if the Fibonacci is retracement or expansion
  3. Figure how it is drawn
  4. Practice drawing retracement or expansion on a chart.


To find a Forex trading chart just Download MetaTrader 4 trading platform from any one of the many currency brokers.

 

After you have downloaded Metatrader 4, Go to the menu "insert" at the top left corner, on the drop down menu, click Fibonacci and select either the option of retracement or expansion. Then draw it as explained in the previous lessons of Expansion and retracement. Then do the following exercises:

 

Retracements and Expansions Exercise


Exercises 1:

Fibonacci retracement on forex chart

 

 

Exercises 2:

Fibonacci retracement on forex down trend

 

 

Exercises 3:

Fibonacci retracement on forex downtrend

 

Recommended Broker

Tight Spreads - EURUSD: as low as 0.1 pips, GBPUSD: as low as 0.1 pips, USDJPY: as low as 0.1 pips Choose Tight Spreads Account

Commission reduced from $5 to $3.5 per side: Open Tight Spreads Account

 

Exercises 4:

Fibonacci retracement Trading

 

 

Exercises 5:

Fibonacci expansion on forex chart

 

Hint: point 1 to point 2 follows the trend direction

Hint: Retracement has points 1 and 2

Hint: Expansion has point 1, 2 and 3

 

Market Sentiment: Risk Appetite Risk Averse Market Sentiment in FX Markets

Takes 5 Minutes to Open an Account, Open an Account Early: Open Forex Account

Poland FX Seminar Gala

XM Account Holders Attend Poland FX Seminar

XM Account Holders Hungary Seminar

Malaysia Seminar

XM Account Holders Thailand Seminar

Silver and Gold Online Trading

Regulated Broker

Takes 5 Minutes to Open an Account, Open an Account Early: Open Forex Account

 

Open Forex Account

Open Demo Account
Open Real Account

Tight Spreads

EURUSD: as low as 0.1 pips
GBPUSD: as low as 0.1 pips
USDJPY: as low as 0.1 pips
Commission fee is charged
Commission reduced from $5 to $3.5 per side

Regulated Broker

Takes 5 Minutes to Open an Account, Open an Account Early: Open Forex Account


Takes 5 Minutes to Open an Account, Open an Account Early: Open Forex Account


Takes 5 Minutes to Open an Account, Open an Account Early: Open Forex Account

Regulated Broker

Open Demo Account
Open Real Account