50% Ruler Tool

50% Retracement
Commodity prices will frequently retrace half of a previous trend.  Once this retracement has occurred, the price usually continues in the original direction.
 

 
 

To draw a 50% Retracement Ruler :

  1. Select the 50% Ruler Tool from the Toolbox.
  2. Left click your mouse on the chart where you would like the ruler to begin.
  3. Continue to hold down the mouse button while moving to the bottom right side of the area to be covered by the ruler.

To lengthen or shorten the formation:

  1. Select the ruler by clicking on it.  (You can tell that the formation is selected when boxes appear on the corners of the drawing.)
  2. Click on one of the boxes to drag the select point and release the mouse button.

To move the entire ruler:
  1. Select the ruler by clicking on it, then drag to the new location and release the mouse button.

To delete the ruler:

  1. Select the ruler by clicking on it and press the delete key on your keyboard.