Trade Forex Trading

Fibonacci XAUUSD Exercises

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

Tasks:

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

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

After you've downloaded MetaTrader 4, Go to the menu 'insert' at tops left corner, on the drop-down menu, click Fib and choose either the option of Fibonacci retracement or expansion. Then draw it as described in the previous tutorials of Expansion & retracement. Then do the following exercises:

Retracements and Expansions levels Exercise

Exercises 1:

Fib Technical Indicator Exercises - How Do You Use Fibo Retracement Indicator?

Exercises 2:

XAUUSD Trading Fib Retracement & Extension XAUUSD Methods

Exercises 3:

How Do You Interpret Fibo Retracement Levels XAUUSD Trading Technical Analysis?

Broker

Exercises 4:

How Do You Interpret XAUUSD Trading Fibo Retracement Indicator in MT4 Platform for XAUUSD Trading?

Exercises 5:

How to Place Fibo Extension Levels Indicator on MT5 Software

Hint: point 1 to point 2 follows the trend direction

Hint: Fibonacci Retracement has points 1 & 2

Hint: Expansion has point 1, 2 & 3