Retracement beyond 61.8% of the preceding wave and it acts a good point for risk management. Trend invalidation doesn't happen till the time wave low/high is broken, but if the 61.8% mark is broken probability that wave low/high is going to break increases.
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Disclaimer
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.