On the chart I include the formula and a example of how to get shirt term price targets using the retrace theory. Basic retracement theory (B-A)+C (130.77-128.71)+129.94=$132 the low = A the retrace high = B current retracement low = C
Trend Strength Maximum Retracements Upside Targets (downside targets are inverse) Very Strong -14.6% to 23.7% A to B added to C Easily exceed B
-Strong 38.2% A to B added to C Easily exceed B
-Medium Strong 38.2% to 50% 80% of A to B added to C Should Easily exceed B
-Medium 50% 80% of A to B added to C Should Easily exceed B
-Medium Weak 61.8% to 50% 80% of A to B added to C Possibly exceed B
-Weak 61.8% 80% of A to B added to C Possibly exceed B
-Very Weak 85.4%to 76.3% 80% of A to B added to C Probably will not exceed B