I would consider anything that changed a TA behaviour from the FA side not a change but part of the normal flow that TA was expected to accommodate, which is why we can't forecast TA exactly months ahead, because it is the culmination of all the emotions in the market and how those emotions respond to different pricing and pricing rates of change over time. Stuff happens and people respond emotionally - that is what TA is reading and modelling. So my answer would be if a down wave pattern changed prematurely to that which was expected originally it would simply mean that the up wave would be higher than otherwise so one had a different wave shape governing the next bit of TA. In this case it would mean different fib points than if the peak was lower. So in a sense there is a consequence, but it isn't karmic - you don't have to be punished more because something good happened to you to balance the universe, you just have a larger range for the same fib level. Not that I agree that wave 4 was unreasonably shallow. My observation is the TA is a machine that doesn't necessarily have to make any particular FA sense. Take now, there is not necessarily any FA justification for prices to retrace now at all, but they have and they will for a bit.
GXY Price at posting:
$3.37 Sentiment: Buy Disclosure: Held
