Notes
- The Fibonacci tool itself is useless.
- Impulse price swing is what Michael also calls displacement.
- Once a swing high is formed, wait to see if a down candle is created to confirm that the price wants to reach equilibrium.
- Buys should be made at or below equilibrium.
- The best buy opportunities provide OTE levels.
- If we expect higher prices, every time the market takes the last swing low, we should assume it is a stop run/turtle soup setup.
- The price will often consolidate around the equilibrium level.
- If the price falls below OTE levels and you still expect higher prices, wait for the turtle soup buy setup.
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