Hi,
76% is important as it determine the retracement is completed or doing a follow thru with candlestick pattern to support it. Normally, price like to test it a few time thus it failed to break it and we will be seeing her to make a u-turn. As for 200EMA, i use it to determine the trend, normally, i will have more confident to enter a trade if current price is below 200EMA & vice versa. I am it on M15 chart only. I used daily chart for all my trendline & major PA. Hope i have cleared your doubt.
p/s: Not sure if others bro here uses 76% but 76% is always very useful for me.
76% is important as it determine the retracement is completed or doing a follow thru with candlestick pattern to support it. Normally, price like to test it a few time thus it failed to break it and we will be seeing her to make a u-turn. As for 200EMA, i use it to determine the trend, normally, i will have more confident to enter a trade if current price is below 200EMA & vice versa. I am it on M15 chart only. I used daily chart for all my trendline & major PA. Hope i have cleared your doubt.
p/s: Not sure if others bro here uses 76% but 76% is always very useful for me.
May the pips be with me !!!