When utilizing the Fib Ret, we go down from the peak of the chart. Do you move the retracement to the actual bottom of the chart or just to the lowest level reached on the chart? I've always taken it to the bottom of the chart.
theking2000
In general a Fib retracement is drawn between two significant turning points or pivots [ie a peak and a valley] which may not necessarily be the highest or lowest points on the chart but two points that define a swing [or wave].
Alex
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