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