AB must retrace 61.8% of the XA leg BC can retrace between 38.2% – 88.6% of AB CD can be an extension of 1.272% – 1.618% of AB CD can also be a retracement of up to 78.6% of XA leg The point D is known as the PRZ or Potential Reversal Zone
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.