Retracement


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Retracement

A price movement in the opposite direction of the previous trend.

Retracement

A situation in which a price begins to move back toward its former price after it has changed significantly in a brief period of time. An example of retracement occurs when a stock falls 10% but then recovers 8%.
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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 Levels: http://www.
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 level.
Technical analyst Christopher Weaver shows you how to improve your trading of trending currency pairs using trend lines, channels, Fibonacci retracements and symmetrical triangles.
Since early September, these stocks have pulled back and experienced significant retracements.