Classic price action says that after every successive move there must be a secondary move, 50% retracement must be hit in order to move in a healthy trend. The zone will be well respected and also is in confluence with .5% fib levels.
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.