How To Draw Fibonacci Extensions The Right Way (Tutorial)

How To Draw Fibonacci Extensions The Right Way (Tutorial)

In this Trading Beacon tutorial, we will explain EXACTLY how to use the Fibonacci Extension Tool, so that you can draw in your take profit levels correctly while trading.

The fibonacci extension tool (also known as fibonacci expansion) is used primarily to draw take profit targets when trading, and can be combined with other factors of confluence to increase the probability of your levels.

So if you want to know how to use fibonacci extension in your trading then look no further than today’s tutorial!

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DISCLAIMER:
Foreign exchange trading on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and, therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts. Past performance is not indicative of future results. The information presented today is not meant for use in live trading.
This video is not a recommendation to anyone on how to spend or invest their money. Take all videos as my own opinion, as entertainment, and at your own risk. I do not assume any responsibility or liability for any errors or omission in the content of this channel. This content is for educational purposes only, and is not tax, legal, financial or professional advice. Any action you take on the information in this video is strictly at your own risk. TradingBeacon.com and all individuals affiliated with this channel assume no responsibilities for your trading and investment results.

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50 Comments

  1. Una Wantwadi-Putu on September 6, 2021 at 10:03 pm

    This is so confusing…



  2. MrLostMD on September 6, 2021 at 10:04 pm

    thanks mate!



  3. Robin Social on September 6, 2021 at 10:05 pm

    Would have liked a more detailed explanation personally.



  4. Erwin Hero on September 6, 2021 at 10:07 pm

    Finally.



  5. Jeanne Robertson on September 6, 2021 at 10:08 pm

    I’ll love to share how I have been able to make so much profit in crypto since the year began, I honestly can’t understand the negative attention cryptocurrency receive.



  6. You Found it! on September 6, 2021 at 10:10 pm

    Excellent! Thank you!



  7. Aiyappaa on September 6, 2021 at 10:14 pm

    Too good vedio …. thanks for making such nice vedio …… love and prayers from india



  8. Sandra Mohviski on September 6, 2021 at 10:16 pm

    I have tried lots of professionals but only got exceptional income trading with Mr Ryan strategy now earning over $7000 biweekly with his strategy.



  9. uma gupta on September 6, 2021 at 10:17 pm

    Awesome explaination 😊
    Thank you!



  10. Ted371 on September 6, 2021 at 10:19 pm

    Thanks for sharing this. Yes, there are videos teaching the wrong way to use this tool.



  11. Ralphael Confer on September 6, 2021 at 10:24 pm

    Really enjoy all your videos. Do you trade through Tradingview (who?) or MT4 (..??)?



  12. Sam Staker on September 6, 2021 at 10:25 pm

    Great Tutorial… concise and to the point.



  13. ohitsmagic on September 6, 2021 at 10:26 pm

    can someone tell me is there an app or website that i can use to draw the fibonacci??



  14. Sonia Writes on September 6, 2021 at 10:26 pm

    i rarely comment on youtube videos but You are amazing God bless you
    Amazing content



  15. Stephen McGuire on September 6, 2021 at 10:26 pm

    Given the high rate of scammers all over youtube it is important these guidelines are circulated so every trader can be safe out here, first thing first if you find yourself needing a mentor make sure the said mentor is registered, he has to be a verified investment adviser/broker and also always research for a strategy and read reviews, the one i use is the *Nicholas Alexander Kelly Strategy* currently working and the creator is registered and verified so give it a go.



  16. Nicky On SMasH on September 6, 2021 at 10:26 pm

    Every video has explained this too me, has used a completely different point for the third click. Thank you



  17. tawhid anam on September 6, 2021 at 10:28 pm

    127% is very very important level too.



  18. TRADE WAR on September 6, 2021 at 10:28 pm

    nice video bro



  19. Lu on September 6, 2021 at 10:28 pm

    One of the best EXPLANATION



  20. Chris S on September 6, 2021 at 10:29 pm

    These are not the levels Tradingview has setup.



  21. Water Taxi on September 6, 2021 at 10:30 pm

    wysetrade?



  22. Fadhlan Faidhan on September 6, 2021 at 10:34 pm

    thank you! But now I’m confused when to use between fib retracements and fib extensions



  23. JACK_SPARROW on September 6, 2021 at 10:35 pm

    Very nice explanation ❀️❀️



  24. Arjun Rautela on September 6, 2021 at 10:36 pm

    πŸ‘πŸΏ



  25. AMUK anonymous on September 6, 2021 at 10:37 pm

    Hello, thanks for sharing all details, but i am just beginner and i started trading on mobile so can u pl tell me what values should i enter if i am doing trading in live market and mkt has just begin 30 mins before or before 30 mins closing.as in mobile drawing tools are not visible , what is visible is style, coordinates and visibility.in style dropdown there are trend line , levels line, extend lines,,background , reverse, prices levels,>values ,percents, LABELS > LEFT, TOP ,MIDDLE ,BOTTOM and fib levels based on log scles option.
    Next tab is coordidates > price bar1 and price bar2 and the last tab is visibility >minutes, hours ,days, weeks and months option .pl guide me how can i use it accurately on mobile.thanks and regards



  26. Ralphael Confer on September 6, 2021 at 10:39 pm

    I use Tradingview and its a little confusing to see what or how to change the numbers on the Fib. Ext tool. Do you have a detailed example I can study? THANKS!!



  27. John B on September 6, 2021 at 10:39 pm

    wow ! thank you so much! i learnt a lot !



  28. TFinance on September 6, 2021 at 10:42 pm

    Finally, someone who explained this clearly, thank you.



  29. Yoga Fadhila on September 6, 2021 at 10:43 pm

    i need sub πŸ˜₯



  30. Ibrahim Alani on September 6, 2021 at 10:44 pm

    BEST VIDEO ON THIS EVER. I’VE SEEN MANY BUT THIS IS THE BEST ONE. THANK YOU!



  31. Kirkus Arelius on September 6, 2021 at 10:44 pm

    THUMB’S UP, SUBBED, BELL ON πŸ™‚ Thank You



  32. luuk57 on September 6, 2021 at 10:44 pm

    i have tried all things…and it’s all crap πŸ˜‰ the more i know the worse my trades get. I made 40k from 5 k in 6 weeks. When i absolutely knew nothing about trading. Now i know a lot and i hardly win lol.



  33. Jerry Jones on September 6, 2021 at 10:45 pm

    Awesome video,As a beginner,I made weak profit investing on my own but since I started trading with Mrs Camilla Margaret,I’ve made huge profit, her trading strategies are top notch coupled with the little commission she charges on her trade



  34. KangoKid Kidd on September 6, 2021 at 10:45 pm

    There is a you tube channel called trade empowered and he said you take from 1 to 2 and then back to 1…..I don’t know who to believe…yall need to get your shit together lol



  35. Ryan Nagy on September 6, 2021 at 10:47 pm

    Ξ¦ is GOD



  36. Jitender Bedi on September 6, 2021 at 10:47 pm

    It was an excellent knowledge sharing video. Just to know should we go ahead one Fibonacci extension till trend is reversed. Do we need to draw another if there might be consolidation or short term correction?



  37. Andy Pavlatos on September 6, 2021 at 10:48 pm

    What recommended fib numbers come after 200%?
    Thank you,



  38. Kanwar on September 6, 2021 at 10:48 pm

    thnkyou so much found so many videos but noone taught like you. subscribed



  39. Granx TheftxAltcoin on September 6, 2021 at 10:48 pm

    Great video helped a lot



  40. Saleem Shahzad on September 6, 2021 at 10:49 pm

    crystal clear explanation



  41. Kenneth Bryant on September 6, 2021 at 10:49 pm

    Hi. Your videos are very helpful to me. Thank you so much. Do you think you can do a video on Fibonacci retracements?



  42. Nil Sen on September 6, 2021 at 10:50 pm

    Watched many Trading videos from different channel but this should be one of the top in my list because of the crisp and clear explanation of the subject.



  43. Andrews Joseph on September 6, 2021 at 10:52 pm

    Nice video sir. I have doubt how to do settings as percentage in fib extension



  44. Studology on September 6, 2021 at 10:52 pm

    great video



  45. Jaykumar Gujar on September 6, 2021 at 10:53 pm

    ITS GOOD EXPLATIONATION FOR FIB EXTENSION



  46. mangomojitos on September 6, 2021 at 10:54 pm

    how do you customize the fib level to show % exactly as how it is in the video? the default on trading view is numbers and decimals. please help!



  47. royal king on September 6, 2021 at 10:55 pm

    Whoa….what a clear video it is! Awesome! Thank you so much for the content.



  48. Andrew I. on September 6, 2021 at 10:57 pm

    Very educative piece, liked & subbed straight away.



  49. Carol A. Perez on September 6, 2021 at 10:58 pm

    Here is an advice for every upcoming trader, first make sure you research for a strategy, secondly if you decide to get a mentor make sure he is a registered investment adviser/broker these days you have to be careful a good way to start your career is researching *Nicholas Alexander Kelly strategy* the strategy is currently working and the creator is registered as well so there you go.



  50. Carolina Bren on September 6, 2021 at 10:58 pm

    Great information ℹ️, this made me sign up with an experienced professional trader in the trading community who has deemed fit for trading for me honestly and also is very well making me happy and learning when he gets my gains and the PDF as well!