Checklist with 6 components.
- Extension Fill – the last projected distance was made at 1.1972 as shown by the Projected Distance 240 ✓
Near Misses
2. The most recent maximum stretch was at 3.6x, this run has scored 3.37 so far on the Stretch Marker ✓
3. Attack on the overdrive line. Price has already managed to score an overbought reading at 90%+ of the E-32 Channel – shown by the latest version of the Stochastic Bars Mixed ✓
4. The Dynamic version of the Energy Bands (CI Moat) show a close call to the water filled area that is starting at 1.20131 the previous run up also missed it, by 7 pips
Additional numeral checks
5. Level of 4H exhaustion – you want to see a print below 38 on the 7-sample CI reading – currently at 35.38 ✓
6. Psychological number? 1.20 in this case, a rather round one – may or may not be reached, but you can expect at least from price to give it a good try.
Final advice:
Keep an eye out for Continuation divergences – here shown by the RSI2 Basic, for that is where the new attacks come out of.
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bonus image:
the relationship between wave 3 and wave 5 of Wave 3 and the relationship between Wave 3 and Wave 5
