Hi @mr_ delta...the 62% is between the 1st high and 1st low...

Hi @mr_ delta...the 62% is between the 1st high and 1st low after breaking the long term horizontal resistance..
the low is often a retrace to the breakout line but not always..breaking the 62% resistance on the way back up is the priority....ideally the trade looks like this one on COB..its a "popular" set up.... still very early days for WFE we dont know if it will retrace to the breakout line or just break upwards through the current 62% Fib resistance. I guess it depends on how strong this resistance proves to be initially.