Table 3 Summary of retracement levels
Position | Uptrend | Downtrend |
|---|---|---|
Long | \(Price_{t - 1} < 23.6\% retracement < Price_{t}\) | \(Price_{t - 1} < 61.8\% retracement < Price_{t}\) |
Short | \(Price_{t} < 61.8\% retracement < Price_{t - 1}\) | \(Price_{t} < 23.6\% retracement < Price_{t - 1}\) |