GLENMARK - 50% Fibonacci Retracement as Support

📍 50% Fibonacci Retracement as Support

Although the 50% retracement is not an official Fibonacci ratio, it is one of the most widely used and most respected levels in technical analysis.

Why?
Because markets often retrace half of a strong move before continuing the trend.

✅ What It Means

When the price has rallied and then pulls back, the 50% level of that move often acts as a strong support zone, where buyers step back in.

📘 How It Works

Identify a strong up-move (swing low → swing high).

Apply Fibonacci retracement.

Look at the 50% level.

If price falls to this level and holds, it is considered support.

📊 Why 50% Works as Support

✔ Many institutional traders watch it.
✔ Human psychology — markets often correct halfway.
✔ Big players accumulate around this level.
✔ Works well in trending markets.

🟢 Bullish Scenario: 50% as Support

If price:

Drops to the 50% retracement

Slows down

Forms reversal candles (hammer, bullish engulfing)

Shows rising volume

👉 It indicates buyers defending the zone → uptrend likely to resume.

🎯 Entry, Stop-Loss & Target

Entry: When price bounces from 50% level
Stop-loss: Below the 61.8% or the swing low
Target: Retest of the previous swing high (100%)
If breakout continues, next target can be 1.272 or 1.618 extension.