Or vice versa, etc. with some caveats (see below). As per the Wikipedia article on gender fluidity:

A genderfluid person may fluctuate among different gender expressions over their lifetime, or express multiple aspects of various gender markers simultaneously.

As I understand it, these gender markers might not be the same as sexual characteristics. For example, a person with feminine clothing and a penis could be a trans woman or femboy depending on what traits they consider defining of their gender, and might be intersex or not. Not to mention non-committal states like gender questioning and exploration, or crossdressing for entertainment or a Gerudo Town visit. They can find terms like “nonbinary” and “genderfluid” derogatory, especially if they encompass a trait they are indifferent to, dysphoric or sensitive about.

Am I wrong about something here?