Retracement

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Retracement

A price movement in the opposite direction of the previous trend.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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%.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
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The third wave labeled c is unfolding towards the target zone, which is formed by the 61.8 percent and the 50 percent retracements of the rally from $1,276.59 to $1,326.30.
Out of 11 such retracements eight have been larger.
In terms of the LQD investment grade corporate ETF price action has been more negative, as it has extended declines from over 120.70 in late January to lows near 116.00 presently with only minor retracements for a -4% YTD return.
These resistances are identified respectively as the 61.8 percent and the 76.4 percent retracements of the downtrend from $2,397 to $1,982.
The range is formed by the 23.6 percent and the 38.2 percent retracements of the downtrend from $7,253 to $6,777.
The range is formed by the 23.6 percent and the 38.2 percent retracements on the downtrend from $1,366.07 to $1,302.61.