Technical analysis by Henrybillion about Symbol PAXG on 6/9/2025

How to Use Fibonacci Extension for Effective Profit-Taking in Forex.Fibonacci Extension is a powerful tool for identifying profit-taking levels in Forex, including XAU/USD trading. Here’s a concise, SEO-optimized guide to maximize your gains:1. Understand Fibonacci Extension LevelsThe 127.2%, 161.8%, and 261.8% extension levels predict price targets after a breakout, making them ideal for setting profit goals.2. Identify Key Price SwingsSelect swing low (e.g., 3.300 USD), swing high (e.g., 3.344.70 USD), and retracement low (e.g., 3.312.570 USD) on the chart.3. Apply Fibonacci ExtensionDraw from swing low to high, then extend from the retracement low. For example, 161.8% may project to approximately 3.360 USD.4. Set Profit-Taking TargetsConservative: Target 127.2% (e.g., 3.350 USD).Aggressive: Aim for 161.8% (e.g., 3.360 USD), aligning with resistance levels.5. Manage RiskPlace a stop-loss below the retracement low (e.g., 3.300 USD) and aim for a 1:2 risk-reward ratio.6. Pro TipsCombine with resistance, RSI, or volume; exit early if momentum fades. Update levels with new swings.Leverage this strategy to optimize profits in volatile Forex markets like XAU/USD!