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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Chartists also place importance on retracements of 38% and 62% which are called Fibonacci retracements.
8% retracements as well as the underside of the former support lines in some of the crosses.
The CADJPY and CHFJPY have reversed sharply from 50% retracements.
6% FIB RETRACMENT Many traders are familiar with some of the key fibonacci retracements such as the 38.
Recent movement is eerily similar to two previous patterns in which the pair initiated roughly 700 pip uptrends following retracements near the 38.
However, by incorporating Fibonacci retracements into our analysis, we were able to see that the market stalled by the 1.
The USDJPY has entered the resistance zone defined by Fibonacci retracements from 98 to 101.