Trade Bitcoin Trading

How to Use Fib Extension Levels

We use Fibonacci Expansion Levels to try to project where the bitcoin crypto currency trend movement will get to. There are Two crucial Fibo Extension areas: 61.80 % and 100 % Fibonacci Expansion Areas, these are used for taking profit.

To draw Fibonacci Extension levels in MT4 btcusd chart we wait til the bitcoin price retracement is complete and the bitcoin price starts to move in the original direction of the Bitcoin trend. Where the btcusd crypto price pullback gets-to is used as point 3. Fib Extension MetaTrader 4 Indicator is plotted using 3 chart points as shown on the cryptocurrency example illustrated below of how to draw the Fib Expansion Technical Indicator MT4 Tool.

The Fibonacci Extension MetaTrader 4 Trading Indicator example illustrated below illustrates the 3 Points where the Fibonacci Extension MetaTrader 4 bitcoin technical indicator is plotted, labeled as Point 1, Chart point 2 and Chart point 3.

Point 1 is where btcusd crypto trend started, Point 2 is where btcusd crypto trend pulled back and retraced and Chart point 3 is where the cryptocurrency retracement reached as shown on the Fibonacci Extension MetaTrader 4 Indicator Tool example illustrated below.

How Do I Use Fibo Extension Levels

How Do I Use Fibonacci Extension? - How Do You Use Fib Extension Levels? - Fibonacci Extensions Tutorial

How Do I Use Fibo Expansion Levels - Fibonacci Extension Tutorial

Please note where these Fib Expansion levels are plotted - Fibo Expansion levels are drawn above the MT4 Fibonacci indicator, these are the chart levels where a btc usd trader will set the takeprofit orders using these Fib Extensions - 61.80% and 100.00% Fibo Extension Areas.

Upward Bitcoin Trend - How to Use Fib Extension in Bitcoin Guide - How to Use Fibo Expansion Levels - Fibonacci Extension Tutorial

We use Fibonacci Expansion Levels to try to project where the btcusd crypto trend movement will get to. There are Two crucial Fib Extension areas: 61.80 % BTCUSD Fibo Expansion Level and 100 % Fibonacci Expansion Level, these Fib Expansion Areas are used for taking profit.

On the Fibonacci Extension MetaTrader 4 indicator example illustrated below you can see that the Fibonacci Extension MetaTrader 4 technical indicator tool is plotted along the direction of the btcusd crypto trend, since the bitcoin trend is upwards - MetaTrader 4 Fibonacci Extension indicator is plotted upward.

These Fibo Extension levels are listed as horizontal lines above the Fibonacci Extension MetaTrader 4 bitcoin indicator, showing the taking profit zones. In the cryptocurrency example illustrated below if you had used of 100.00% Fibonacci Extension level the you would have made good profit from this trade setup.

How to Use Fib Extension in BTCUSD Guide - How Do I Use Fibonacci Extensions? - Fibonacci Extension PDF

How Do You Use Fib Extension in Cryptocurrency Lesson - How to Use Fib Expansion Levels

How to Use Fibo Extension Levels - Fibonacci Expansion Guide

From the above Fibonacci Extension MetaTrader 4 indicator example, the upwards bitcoin trend continued and both 61.80% and 100.0 % Fibonacci Extension levels were all hit after which bitcoin price retraced again after getting to the 100.0% Fibonacci Extension level.

How to Use Fib Extension in Bitcoin Guide

Since we use the Fibonacci Extension MetaTrader 4 tool to estimate take-profit levels, how do we draw Meta Trader 4 Fibonacci Extension in a down ward trend?

We draw the Fibonacci Extension MetaTrader 4 tool from chart point 1 to chart point 2 to chart point 3 as illustrated on the cryptocurrency example illustrated below. Remember we always draw this Fib Extension MetaTrader 4 tool in direction of the cryptocurrency trend. In the Fib Expansion example illustrated below, can you figure out what is the direction which we have drawn it? That's right - downwards direction.

Try & identify the difference between how we have plotted Fibonacci Expansion technical indicator above and how Fibo Expansion technical indicator is drawn below. This time you would also have used Fib Extension area 100.00%, just where the btcusd crypto price reached as illustrated on the crypto example shown below. That would have been a nice level for profit taking.

How to Use Fib Extension in Bitcoin Tutorial - How to Use Fibo Expansion Levels - Fib Extension Tutorial

How Do You Use Fib Extension in Cryptocurrency Lesson - How to Use Fib Expansion Levels

How to Use Fibo Expansion Levels - Fibonacci Expansion Guide

From the Fib Extension MT4 trading indicator example above, after plotting this MetaTrader 4 Fibo Extension tool there are 2 levels that are used to show the taking profit zones, these two Fibo Extension levels are drawn as horizontal lines across the btcusd crypto currency price chart marked as 61.80 % BTCUSD Fibonacci Expansion Level and 100 % Fib Expansion Level.

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