The adaptability of the Fibonacci retracement
to a variety of charts and time frames has made the tool one of the most popular ones among forex traders.
So far there's only been one rally post breakout and a retracement
that started last week.
The 50% retracement
level is not really a Fibonacci ratio, but it is used because of the overwhelming tendency for an asset to continue in a certain direction once it completes a 50% retracement
Click on the following link to access a Weekly Chart of CY Since October 2004 With Fibonacci Retracement
The 50-percent retracement
level appears to add strong resistance at 28.
8-percent Fibonacci retracement
level between the index's March 2000 high (at 1553.
A market that retraces a large proportion of every little advance as it stair-steps higher has weak momentum, whereas, a market that forms a tighter pattern with little retracement
has strong momentum.
However, today, we will look at our favorite retracement
level in the form of the 78.
On April 7 I mentioned that Hot Topic (NASDAQ: HOTT) looked to be meeting resistance at its 50-percent retracement
Technical analyst Christopher Weaver shows you how to improve your trading of trending currency pairs using trend lines, channels, Fibonacci retracements
and symmetrical triangles.
New material on applying the priority of calls to retracements
Since early September, these stocks have pulled back and experienced significant retracements