Many people get excited when they see small cycles breaking through trend lines—but the trend lines of larger cycles are still pressing down above.
The daily trend line of the Nasdaq is the real pressure; any break below it in the small cycle is a false breakout. Only breaking through previous high points counts as a true confirmation of bullish continuation. Before that, watch for range fluctuations, wait for signals, and do not chase after rallies.
Large cycles determine small cycles; this is one of the most basic yet often overlooked rules of technical analysis.
Have you ever been caught in a position because you chased small cycle signals?
Risk Warning: Personal opinion, not for decision-making reference, trading involves risk, profit and loss are your own responsibility
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