100.0% XAUUSD Trading Fib Extension Level
We useFibo expansion levels to estimate where the market trend movement will reach. There are Two important Fibonacci expansion levels: 61.80% and 100.0% Fibo Extension Levels, these are used for taking profit.
100.0% XAUUSD Trading Fib Extension Level
100.0 XAUUSD Fib Extension Level is not commonly used to set xauusd profit taking orders when trading using the Fibo Extension Technical Indicator.
Most xauusd traders will use the 61.8% Fibonacci Extension level.
To draw Fibonacci Extension levels on the gold chart we wait until the gold price retracement is complete & the price starts to move in original direction of the XAUUSD trend. Where the gold price retracement reaches is used as chart point 3. Fibonacci Extension Indicator is drawn using 3 chart points as illustrated on the trading example illustrated & shown below of how to draw the Fibo Extension Technical Indicator Tool.
The Fibonacci expansion example illustrated and shown below shows the 3 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 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 shown on the Fibonacci Extension Technical Indicator Tool example shown below.
The First Fibonacci Extension Level is the 61.8% XAUUSD Fib Extension Level and the second is 100.0 XAUUSD Fib Extension Level shown Below - These Fibonacci Extension Levels are Used by XAUUSD Traders to Set Take Profit XAUUSD Orders
Fibonacci Extension Level - 61.8% XAUUSD Fib Extension and 100.0% XAUUSD Fib Extension Level Used to Set Take Profit XAUUSD Orders
Please note where these Fibo Extension levels are plotted - Fibonacci Extension zones are plotted above the Fibo technical indicator, these are the chart points where a trader will set the take profit orders using these Fibonacci Extension Levels - 100.0% Fibonacci Extension Level is the second Fibonacci Level.
