Ok. Let me take you to one method of adding stocks in a healthy uptrend while they are retracing. I learnt this from the classical work of David Landry (2003)

Conditions - Healthy uptrend and retracing.

But - you don't know how deep the retracement will be.

So, what to do?

Example - Minda Corp Chart

Healthy uptrend? Yes
Retracement? Yes

With every retracement candle, we move our buy limit order at candle's high. So the first order we placed at 1. In a way, we are telling the broker to buy when the price crosses 1.
Ok. So it has gone down further the next day, we shift the buy order at 2.

Then again at 3

Then at 4.

We do it it'll it is triggered and shares are bought. In this way, we dodge Fibonacci numbers. As by drawing 38% of 61.8% we couldn't ever know till how deep the stock goes.
You can use the same with your SIP stocks for long-term investment while buying at the dips. As you never know till how deep it dips. :) So, you will have cash always till you buy near the bottom. Of course of retracement, not the trend reversal.
A healthy uptrend is the first condition. Happy investing :)

That is why you must learn about what each legend has written. You can save a lot of your hard-earned money. Place a SL little above candle's high.

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॥ॐ॥
अस्य श्री गायत्री ध्यान श्लोक:
(gAyatri dhyAna shlOka)
• This shloka to meditate personified form of वेदमाता गायत्री was given by Bhagwaan Brahma to Sage yAgnavalkya (याज्ञवल्क्य).

• 14th shloka of गायत्री कवचम् which is taken from वशिष्ठ संहिता, goes as follows..


• मुक्ता-विद्रुम-हेम-नील धवलच्छायैर्मुखस्त्रीक्षणै:।
muktA vidruma hEma nIla dhavalachhAyaiH mukhaistrlkShaNaiH.

• युक्तामिन्दुकला-निबद्धमुकुटां तत्वार्थवर्णात्मिकाम्॥
yuktAmindukalA nibaddha makutAm tatvArtha varNAtmikam.

• गायत्रीं वरदाभयाङ्कुश कशां शुभ्रं कपालं गदाम्।
gAyatrIm vardAbhayANkusha kashAm shubhram kapAlam gadAm.

• शंखं चक्रमथारविन्दयुगलं हस्तैर्वहन्ती भजै॥
shankham chakramathArvinda yugalam hastairvahantIm bhajE.

This shloka describes the form of वेदमाता गायत्री.

• It says, "She has five faces which shine with the colours of a Pearl 'मुक्ता', Coral 'विद्रुम', Gold 'हेम्', Sapphire 'नील्', & a Diamond 'धवलम्'.

• These five faces are symbolic of the five primordial elements called पञ्चमहाभूत:' which makes up the entire existence.

• These are the elements of SPACE, FIRE, WIND, EARTH & WATER.

• All these five faces shine with three eyes 'त्रिक्षणै:'.