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Tan74

1,792 Posts.

26/07/24

01:07

Post #: 74923107
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Originally posted by pintohoo: ↑

did ya dear ------

you should know about breaks in trendlines and retracements -

if this trendline breakdown is confirmed - where would you think a common retrace takes us to

here's a hint if you're not a TA person

The most common retracement percentage in stock prices after an uptrend is broken is typically around 50%.

While Fibonacci retracement levels include several key percentages, the 50% retracement level is widely regarded as a significant and frequently observed level for price reversals. Here's why:

1. The 50% retracement is considered a key level in technical analysis, even though it's not strictly a Fibonacci ratio[1][3].

2. Many traders use the 50% level because of the tendency of asset prices to continue in a particular direction after retracing about half of the previous move[3].

3. The 50% level often acts as a strong support or resistance area, where prices may pause or reverse[1].

4. It's seen as a "midpoint" retracement, making it psychologically significant for traders and investors.

5. While other Fibonacci levels like 38.2% and 61.8% are also important, the 50% level is easier to calculate and visualize, contributing to its popularity[1][3].

[1] https://www.investopedia.com/terms/f/fibonacciretracement.asp

[2] https://www.schaeffersresearch.com/...cal-analysis/retracement-levels-and-fibonacci

[3] https://www.investopedia.com/ask/answers/05/fibonacciretracement.asp

[4] https://financhill.com/blog/investing/technical-chart-retracement

[5] https://groww.in/p/fibonacci-retracement

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Yeah, well how is TA working out for you in this current market....best stick with fundamentals maybe ???
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