BTCUSD Trading Fib Extension Calculator
Take Profit BTCUSD Order Level Bitcoin Trading Calculator
We use Fibo Extension Zones to estimate where the bitcoin trend movement will reach. There are 2 important Fibo Extension areas: 61.80% & 100% Fibo Extension Levels, these are used for taking profit.
To draw Fib Extension levels in the MT4 btcusd chart we wait until the bitcoin price retracement is complete & the bitcoin price starts to move in the original direction of the Bitcoin trend. Where the bitcoin price retracement reaches is used as chart point 3. Fibo Extension MetaTrader 4 Technical Indicator is plotted using 3 chart points as shown on the cryptocurrency trading example illustrated below of how to draw the Fibonacci Extension Indicator MetaTrader 4 Tool.
The Fibonacci Extension MetaTrader 4 Indicator example illustrated below shows the 3 Chart Points where the Fibonacci Extension MetaTrader 4 indicator is plotted, marked as Chart point 1, Chart point 2 & Chart point 3.
Chart point 1 is where the bitcoin trend started, Chart point 2 is where the bitcoin trend pulled back & retraced & Chart point 3 is where the cryptocurrency retracement reached as shown on the Fibonacci Extension MetaTrader 4 Cryptocurrency Indicator Tool example illustrated below.
Fibonacci Extension Crypto MetaTrader 4 Indicator - Fibo Extension Calculator
Fibonacci Extension Bitcoin MetaTrader 4 Indicator - Fibo Extension Calculator
Please note where these Fib Extension areas are plotted - Fibo Extension levels are plotted above the MT4 Fibonacci indicator, these are the chart points where a trader will place the takeprofit orders using these Fib Extension Levels - 61.80% & 100.00% Fibo Extension Areas.
Fibonacci Extension BTCUSD MetaTrader 4 Technical Indicator
We use Fibo Extension Zones to estimate where the bitcoin trend movement will reach. There are 2 important Fibo Extension areas: 61.8% Bitcoin Fib Extension Level & 100% Fib Extension Level, these Fib Extension Levels are used for taking profit.
On the Fibonacci Extension MetaTrader 4 cryptocurrency indicator example illustrated below you can see that the Fibonacci Extension MetaTrader 4 cryptocurrency technical indicator is plotted along the direction of the bitcoin trend, since the bitcoin trend is upward - MetaTrader 4 Fibonacci Extension technical indicator is plotted upwards.
These Fibo Extension zones are displayed as horizontal lines above the Fibonacci Extension MetaTrader 4 technical indicator, showing the profit-taking areas. In the cryptocurrency trading example illustrated below if you had used of 100.0% Fibo Extension level the you would have made good profit from this trading setup.
Fibonacci Extension Crypto MetaTrader 4 Indicator - Fibo Extension Calculator
Fib Extension Calculator - How to Use Fibonacci Extension in Bitcoin Trading
From the above Fibonacci Extension MetaTrader 4 cryptocurrency indicator examples, the upwards bitcoin trend continued & both 61.80% & 100.0% Fibo Extension zones were all hit after which bitcoin price retraced again after getting to the 100.0% Fibo Extension level.
Fibonacci Extension Bitcoin Trading MT4 Indicator
Since we use the Fibonacci Extension MetaTrader 4 cryptocurrency tool to estimate take profit levels, how do we draw MetaTrader 4 Fibonacci Extension in a downward Crypto trend?
We draw the Fibonacci Extension MetaTrader 4 cryptocurrency tool from chart point 1 to chart point 2 to chart point 3 as shown on the cryptocurrency trading example illustrated below. Remember we always plot this Fibonacci Extension MetaTrader 4 cryptocurrency tool in direction of the cryptocurrency trend. In the Fibonacci Extension example illustrated below, can you figure what's the direction which we have drawn it? That's right - downwards direction.
Try & identify the difference between how we have drawn Fibonacci Extension technical indicator above & how Fibo Extension technical indicator is plotted below. This time you would also have used Fibo Extension level 100.0%, just where the bitcoin price reached as illustrated on the cryptocurrency trading example illustrated below. That would have been a good level for profit taking.
Fibonacci Extension Crypto MetaTrader 4 Indicator - Fibo Extension Calculator
Fibonacci Extension Calculator - How to Use Fib Extension in BTCUSD Trading
From the Fibonacci Extension MetaTrader 4 cryptocurrency indicator example above, after plotting this MT4 Fibo Extension tool there are two levels which are used to show the profit taking areas, these two Fibo Extension levels are plotted as horizontal lines across the bitcoin price chart marked as 61.80% Bitcoin Fib Extension Level & 100% Fib Extension Level.
