V.5:4 (132-135): Calculating retracements by Hal Swanson

V.5:4 (132-135): Calculating retracements by Hal Swanson
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Calculating retracements by Hal Swanson

The following forecasting method is an approach to charting price retracement in stocks, commodities, indices or any free market. It is a study of momentum, an evolution somewhere between Gann and Elliott Wave, that allows traders to project an ideal price correction in both price and time.

In my approach, a price move of any proportion will attempt to retrace itself by 50% to 61.8% of the initial price move. This retracement first occurs at twice the original momentum, or even greater, and then completes the price correction with the same momentum as the initial price move. There are six important points, or areas, in this correction pattern where the price retracement could be halted or a secondary reaction could occur. (See the related article on this topic.)

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