Right from the get-go, let me say that I use the symbols EFA and IEFA interchangeably. They are pretty much identical, tick for tick. It’s just that EFA has higher volume, and better options, but I have laid down the drawn objects differently on these two. The point, with both of them, is that they are still sporting one of the cleanest tops I’ve ever witnessed in many decades of charting:
I’ve particularly fetishized the Fibonacci retracements on these, because they are working both long-term and medium-term. This is now my largest position (June $75 puts on EFA).
Looking at a much longer-term chart, you can see how the plunge in EFA was halted firmly by its very long-term Fibonacci retracements. These guides will continue to be invaluable for decision-making as I manage this position.
