It’s strange how everything seems to be in synch in such a volatile environment – almost like there’s structure to the chaos after all!

The more I work with Fibonacci, the more I find meaningful confluence levels as being more important than singular retracement levels. It’s almost like it gives additional weight or confidence.

Let’s see how it plays out!

And in this environment, it would be reasonable to expect upside price action to be muted. Generally, funds have seen any rally as a fresh opportunity to sell (into supposed strength) which would create a sort of tug-of-war condition expected in triangle formations (consolidations/pauses).

We’re more likely going up (in the short term) than down, but just how far – that is the question. I stopped just short (in the post) of reminding readers what occurs after the terminus of a 4th wave….