Posted by rmoore100 on 21st of Dec 2023 at 04:17 pm
Matt mentioned the symmetry break yesterday. Steve, does
your break of structure comment therefore negate the symmetry break
from yesterday, or do we probably still get a retrace down ?
Thanks for your thoughts.
You may still see a lower high but yesterday price moved down
into demand zone and then broke above a previous high creating a
bullish shift in structure which favored the pullback today being
bought.
Yesterday's move down could be a wave C of an expanded flat
or first leg of a triangle (both regarding larger wave 4's)
as long as holding above yesterday's low.
Really appreciate you responding to this ( though it wasn’t my
question). I actually raised a significant amount of cash this
morning ( lot more than what I usually do - and it’s totally my own
business). I know one or two days don’t make a market.
The second paragraph seems too technical to understand. Can
you dumb it down a little bit please.
Matt mentioned the symmetry break
PCE tomorrow - personally expect a tame reading
Posted by rmoore100 on 21st of Dec 2023 at 04:17 pm
Matt mentioned the symmetry break yesterday. Steve, does your break of structure comment therefore negate the symmetry break from yesterday, or do we probably still get a retrace down ? Thanks for your thoughts.
You may still see a
Posted by steve on 21st of Dec 2023 at 04:22 pm
You may still see a lower high but yesterday price moved down into demand zone and then broke above a previous high creating a bullish shift in structure which favored the pullback today being bought.
Yesterday's move down could be a wave C of an expanded flat or first leg of a triangle (both regarding larger wave 4's) as long as holding above yesterday's low.
Steve Really appreciate you responding to
Posted by arun on 21st of Dec 2023 at 07:13 pm
Steve
Really appreciate you responding to this ( though it wasn’t my question). I actually raised a significant amount of cash this morning ( lot more than what I usually do - and it’s totally my own business). I know one or two days don’t make a market.
The second paragraph seems too technical to understand. Can you dumb it down a little bit please.
Think of it like any
Posted by steve on 21st of Dec 2023 at 09:59 pm
Think of it like any other sentiment gauge...simple as that
Ok, Thanks !!
Posted by rmoore100 on 21st of Dec 2023 at 04:24 pm
Ok, Thanks !!