Harnessing the Power of Fibonacci Extensions in Trading Quiz

Which Fibonacci extension level is typically considered the most critical for predicting major price movements?

Fibonacci extensions are only effective in bullish markets.

Arrange these Fibonacci extension levels in ascending order: 161.8%, 100%, 61.8%.

Describe a scenario where you would use a Fibonacci extension level to set a profit target.

Application of Fibonacci Extension Levels

What is the key difference between Fibonacci retracement and Fibonacci extension?

Fibonacci extensions are most effective when used as the sole indicator for making trading decisions.

Sort the following steps in the correct order for using Fibonacci extensions: Plot extension levels, Identify peak and trough, Observe price reaction at extension levels.

Fibonacci Extension Level Significance

What challenges have you faced or anticipate facing when using Fibonacci extensions in your trading, and how do you plan to address them?