Replies to post #2564 on 3rd Leg Trading

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FIB Bounce Rules

a flag pattern projecting a continuation run from the retrace reversal or breakout. FIBs Rule of Thumb states; if the 1st bounce from the retrace comes from 38%, expect previous high to be taken out. If from above 50%, expect previous high to be reached. From 61%, expect a pop to 38% and from below 61%, 50% FIBs becomes the expectation for the first bounce.
....above rules by Lowtrade





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