The long answer:

I will clarify, that all I'm saying is that there is a huge interplay of hormones. Specifically, there is some research showing that cortisol reaches a natural peak about 3 days before menstruation. Coupled with other hormones, (there are many) probably notably progesterone being lowered at this time, water balance is going to be affected.

All this means is that cardio may (note: this will not happen to everyone) increase cortisol, exacerbating the water retention during various phases in the menstrual cycle.

So you can have strange phenomenon like having the weight spike 1 kg or more the day after cardio. Again, this doesn't tell you anything about fat loss, but yet the puffiness of the skin, etc will make the person seem fatter when they in fact could be losing fat. Just something that has to be put up with unfortunately.

So as long as you are following your plan, stick to regular cardio habits. Just note that wonky stuff with WEIGHT can happen.

When are the wrong times in the cycle? Do you mean to eliminate cardio exercise wholesale during these “times in the cycle”?

Would appreciate a reply. Thanks!