Chapter 6  STEP 2 – FIND THE RETRACEMENT POINT C

After you have identified an A to B move and plotted your Fibonacci tool on your charts, you should be able to find point C.

C = the point where the retracement ends and price reverses into the original direction.

As you can see, the screenshot show the typical ABC move of a Fibonacci retracement. Point C is very obvious on all three charts and price bounced off the Fibonacci levels accurately.

STEP 2 – FIND THE RETRACEMENT POINT C-Pic no.1

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