Fibonacci Oil Trading Exercises

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

Tasks:

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

To find a oil chart just Download MT4 platform from any one of the many crude oil brokers.

After you have downloaded MetaTrader 4, Go to the menu "insert" at top left corner, on the drop down menu, click Fibo & select either the option of retracement or expansion. Then draw it as described in the previous courses of Expansion & retracement. Then do the following exercises:

Retracements and Expansions Exercise

Exercises 1:

Exercises 2:

Exercises 3:

Exercises 4:

Exercises 5:

Hint: point 1 to point 2 follows the oil trend direction

Hint: Retracement has points 1 and 2

Hint: Expansion has point 1, 2 & 3