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Strategies & Market Trends : CFZ E-Wiggle Workspace
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To: kckip who wrote (40038)12/13/2023 7:50:49 AM
From: skinowski1 Recommendation

Recommended By
kckip

   of 41471
 
The important thing is - we agree that it’s impulsive :)

That is the main thing. I think an impulsive move has the same implications as a “mini - breadth thrust”. Strength begets more strength. (They’re not directly related, of course. Saying this just to make clearer what I mean).

All those Fibonacci retracement numbers are not rules and not requirements - they simply are what typically happens. When a move is strong, retracements can be shallow. In a move like we had since late October, we may have to settle for quick, shallow consolidations.

Can it turn out to be a bunch of subdivisions of some different structure? Yes. What happens next will validate - or disprove - the current view.

All TA is about probabilities, never certainties. Which is why it makes sense to use some simple trend following overlays - to take you in or kick you out of the market… regardless of your TA.
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