Using Fibonacci/Measured Moves To Understand Price TargetThis video is really an answer to a question from a subscriber.
Can the SPY/QQQ move downward to touch COVID levels (pre-COVID High or COVID Low).
The answer is YES, it could move down far enough to touch the pre-COVID highs or COVID lows, but that would represent a very big BREAKDOWN of Fibonacci/ElliotWave price structure.
In other words, a breakdown of that magnitude would mean the markets have moved into a decidedly BEARISH trend and have broken the opportunity to potentially move substantially higher in 2025-2026 and beyond (at least for a while).
Price structure if very important to understand.
Measured moves happen all the time. They are part of Fibonacci Price Theory, Elliot Wave, and many of my proprietary price patterns.
Think of Measured Moves like waves on a beach. There are bigger waves, middle waves, smaller waves, and minute waves. They are all waves. But their size, magnitude, strength vary.
That is kind of what we are trying to measure using Fibonacci and Measured Move structures.
Watch this video. Tell me if you can see how these Measured Moves work and how to apply Fibonacci structure to them.
This is really the BASICS of price structure.
Get Some.
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