100.0% XAUUSD Trading Fib Projection Level
We useFibonacci expansion levels to estimate where the trend movement will reach. There are Two important Fib expansion levels: 61.8% and 100.0% Fibonacci Projection Levels, these are used for taking profit.
100.0% XAUUSD Trading Fib Projection Level
100.0 XAUUSD Fib Projection Level is not commonly used to set xauusd profit-taking orders when trading using the Fibonacci Projection Technical Indicator.
Most xauusd traders will use 61.8% Fibo Projection level.
To plot Fibonacci Projection zones 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. Fibo Projection Technical Indicator is drawn using Three chart points as illustrated and shown on the trading example illustrated and shown below of how to draw the Fibo Projection Technical Indicator.
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 illustrated and shown on the Fibo Projection Indicator example illustrated & shown below.
The First Fib Projection Level is the 61.8% XAUUSD Fib Projection Level and the second is 100.0 XAUUSD Fib Projection Level shown Below - These Fibonacci Projection Levels are Used by XAUUSD Traders to Set Take Profit XAUUSD Orders
Fibonacci Projection Level - 61.8% XAUUSD Fib Projection and 100.0% XAUUSD Fib Projection Level Used to Set Take Profit XAUUSD Orders
Please note where these Fibonacci Projection levels are plotted - Fibo Projection levels are plotted above Fibo technical indicator, these are the chart points where a trader will set the take-profit orders using these Fibonacci Projection Levels - 100.0% Fibonacci Projection Level is the second Fibonacci Level.
