Sometimes it easier to understand concepts with the help of visualization. Thus, I made this compilation of charts showing many recent trade setups along with many pips earned.

The 38.2% / -61.8% Spike Continuation Trade

The setup: A news-driven spike retraces 38.2% from highs/lows, then reaches the -61.8% target.

The 76.4% / -23.6% Spike Continuation Trade

The setup: A news-driven spike retraces 76.4% from highs/lows, then reaches the -23.6% target.

The Running Spike

The setup: A sudden and meaningful spike without any big retracement that keeps on running and pushing through support and resistance levels.

The 50% / -61.8% Spike Continuation Trade

The setup: A news-driven spike retraces 50% from highs/lows, then reaches the -61.8% target.