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Strategies & Market Trends : CFZ E-Wiggle Workspace
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To: robert b furman who wrote (38369)3/16/2021 8:25:44 AM
From: skinowski2 Recommendations

Recommended By
kckip
The Ox

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When the EW structure can be manifold - which is often - it may be best to step back and look as the simplest, “stupid” one. I submit that 3233 jumps at you as the likely W1 out of last year's March low. This would put us in the later stages of 3 of 3. Which implies that we are due at some point not far off... to hang out for some time until we work off a couple of W4’s (with a 5th of 3 in between) - and then, complete the impulse out of last year's low.

It’s not the only possibility — I think it’s just the simplest one. It may (or may not) go on subdividing further into the future. But, IMO, it clearly implies that we aren’t there yet.

So, my plan is to give it time. If I’m wrong, my moving averages on the monthly chart will take me out in due course. I think, eventually that’s bound to happen, which is fine. In the meantime, I just cut down the exposure a bit, when I see a likely temp top coming up.

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