Determined to get the ultimate understanding of the structure?
There just might be a way. Listen carefully. 9 years of research yielded me this.
- What is a Wave 1? A Wave 1 starts beyond a root point and crosses back above it.
- Was this a Wave 1? It could had been, but did not make it to exhaustion. Nor was it surpassed later.
- How many exhaustions does a Wave 1 come with? Normally 1.
- What happens upon an exhaustion? A pullback. Sometimes there is a beat as well.
- The structure builds on these exhaustion points. They are not impenetrable, but with good odds would be utilized for a continuation opportunity.
- Wave 3 becomes a wave 3 upon exceeding the Wave 1. Now, here is where it gets a little blurry. The first exhaustion starts the wave, the second is ending it. Should not this be called Wave 1 then?
- No, this is a terminal point of a Wave completed. A Wave without number. Wave 3 would likely be presenting you with 3 (directional) exhaustion points, for every Complete Wave would have two different exhaustion points. It is a matter of grouping things. What is missing from this current Wave 3 then?
That’s right, the 2nd buying exhaustion point. What about Wave 5? How many exhaustions does that one come with? None. Their purpose is a beat and/or recharging the energy for the counter move to get started.
So, should you be expecting a gap down before you had the second buying exhaustion?
Somebody was asking about the previous wave structure down. Here it is:
The below routine is for sale, $99
It is under the name of Cumulative RSI + Exhaustion Plots.
In combination with my Market Maker Lines DC – which is aslo at $99 >
Could give you a break for the package, of course. How would $169 for the two sound?
Other: Introducing the Wave1 finding intelligence: