Harnessing the Power of Fibonacci Extensions in Trading Quiz

1 point(s)

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

61.8%

Correct Incorrect Correct answer

100%

Correct Incorrect Correct answer

138.2%

Correct Incorrect Correct answer

161.8%

Correct Incorrect Correct answer

1 point(s)

Fibonacci extensions are only effective in bullish markets.

True

Correct Incorrect Correct answer

False

Correct Incorrect Correct answer

1 point(s)

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

Correct Correct Answer Incorrect

View Answers:

1 point(s)

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

This response will be awarded full points automatically, but it will be reviewed and possibly adjusted after submission.

3 point(s)

Application of Fibonacci Extension Levels

Sort elements

Often acts as the first target post-retracement
Indicates a full recovery of the retracement
Suggests a strong continuation beyond the original trend

61.8%

Correct Incorrect Correct answer

100%	Correct Incorrect Correct answer

161.8%

Correct Incorrect Correct answer

1 point(s)

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

Retracement predicts continuation, extension predicts reversal

Correct Incorrect Correct answer

Extension is used only in forex, retracement in stocks

Correct Incorrect Correct answer

Retracement measures pullbacks, extension projects future moves

Correct Incorrect Correct answer

Extensions are less accurate than retracements

Correct Incorrect Correct answer

1 point(s)

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

True

Correct Incorrect Correct answer

False

Correct Incorrect Correct answer

1 point(s)

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.

Correct Correct Answer Incorrect

View Answers:

3 point(s)

Fibonacci Extension Level Significance

Sort elements

Initial extension level, often tested
Represents a complete trend continuation
Indicates strong bullish or bearish momentum

61.8%

Correct Incorrect Correct answer

100%	Correct Incorrect Correct answer

161.8%

Correct Incorrect Correct answer

1 point(s)

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

This response will be awarded full points automatically, but it will be reviewed and possibly adjusted after submission.

Harnessing the Power of Fibonacci Extensions in Trading Quiz