Charting Corrections

Corrections are a trading tool for analysis in price. The WINPHI program draws the retracement lines of 38.2 percent and 61.8 percent between highs and lows of choice.

Click the P1 speed button to mark the High (or the Low).

Move the cursor to the High of choice in the chart and click with the left mouse button.

Click the P2 speed button to mark the Low (or the High).

Move the cursor to the Low of choice in the chart and click with the left mouse button.

Click the Draw speed button with the right mouse button. Click with the left mouse button on Corrections from the list. A bullet point will appear next to the word Corrections.

Left-click the Draw speed button again. The retracement lines of 38.2 percent and 61.8 percent will appear on the chart.

Click the Clip speed button, and the retracement lines are saved on the screen. We can overlay the screen with any of the other Fibonacci tools as well.

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