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Post# of 79025
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SyndicateTwo

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SyndicateTwo

Re: KovuLK post# 22243

Tuesday, 02/28/2006 2:09:23 PM

Tuesday, February 28, 2006 2:09:23 PM

Post# of 79025
Yes, those retraces are what you said. The whole idea behind the 61.8% level as being key is that usually when you violate that level, you are usually then starting a new trend and are not getting an extended pullback beyond 50%. It's not 100%, but the more you watch it, (or even backtest it), you'll see that it usually works that way.
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