Fibonacci Drawing on Bitcoin Charts Exercises

These exercises will give more examples on trading and drawing Fibonacci retracement levels and Fib expansion levels. The first exercise is to determine the direction of the Bitcoin price trend & then determine if the Fibonacci tool used is Fibonacci retracement or Fibonacci expansion and then figure how it is drawn then practice drawing them on a Bitcoin Crypto Currency chart using a practice demo account.

Tasks:Figure out the direction of the Bitcoin price trend

Determine if the Fibonacci is retracement or extension

Figure-out how it is drawn

Practice drawing Fibonacci retracement or Fibonacci expansion on a BTCUSD Bitcoin price chart.

To find BTCUSD Bitcoin charts just download MetaTrader 5 platform from any one of the many online brokers & choose the financial instrument - BTCUSD.

After you've downloaded the MetaTrader 5 platform, Go to the menu 'Insert' at the top left corner, on the dropdown menu, click Fibonacci & select either the option of Fibonacci Retracement or Fibonacci Expansion. Then draw it as explained in the previous courses of Fibo Expansion and Fibonacci Retracement. Then do the following exercises:

Fibonacci Retracement Levels and Fibo Extension Levels Exercise

Training Exercises 1:

Drawing Fibo Retracement on Bitcoin Charts Exercises - How to Draw Fibonacci Retracement Areas on Bitcoin Charts

Exercises 2:

Fib Retracement Levels Drawing on Bitcoin Charts Exercises - Fib BTCUSD Indicator Drawing on BTCUSD Charts Exercises

Training Exercises 3:

Drawing Fibonacci Expansion Levels on Bitcoin Charts Exercises - Fibo Extension Drawing on Bitcoin Charts

Exercises 4:

Fibo Extension Drawing on Bitcoin Charts Exercises - How to Draw Fibonacci Levels

Exercises 5:

How to Draw Fibonacci Expansion Levels on Bitcoin Charts Exercises - Fibonacci Expansion

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

Hint: Fibo Retracement has points 1 & 2

Hint: Fibo Extension has point 1, 2 and 3

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