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Hi, new to the channel here. When drawing levels to identify 50% pullbacks, should I draw them at the absolute top and bottom of the trend (shown below - high/low highlighted)?
Or should I draw them in the general area of the top/bottom, in a way that touches a few candles (shown below)?
Thanks
Look at the 50 percent line on the first chart. look to the right. see how it lines up perfectly with all those candles that go to the right, however, when you look at the second chart the 50% line does not line up so well with all the candles to the right.
That tells me that the 50% line in the first chart has more significance so from one extreme to the other might be the way to go. go with chart 1.
