Trade Forex Trading

Fibonacci Stock Indices Exercises

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

Tasks:

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

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

After you have downloaded MT4, Navigate to the menu 'insert' at the top left corner, on the drop-down menu, click Fibonacci & choose either the option of retracement or expansion. Then plot it as described in the previous lessons of Expansion & retracement. Then do the following exercises:

Retracements and Expansions levels Exercise

Exercises 1:

Fibonacci retracement on Chart - Fibonacci Expansion Levels and Fib Retracement Levels Exercise

Exercises 2:

Fibonacci retracement on down trend - Fib Expansions and Fibonacci Retracements Exercise

Exercises 3:

Fibonacci retracement on downward trend - Fibonacci Expansion Levels and Fib Retracement Exercise

Broker

Exercises 4:

Fibonacci retracement Trading - Fibonacci Expansion and Fib Retracement Exercise

Exercises 5:

Fibonacci expansion on Chart - Fibonacci Expansion and Fib Retracement Levels Exercise

Hint: point 1 to point 2 follows the trend direction

Hint: Retracement has points 1 & 2

Hint: Expansion has point 1, 2 and 3