Another Level 3 article.
What is going on with the downside, why can there be multiple exhaustions and which one to take seriously?
The picture below shows 3 deep exhaustions. Any of them could had been final, but something was missing. What?
The beat of the first exhaustion provided the target level of 1.1771. After that I was not curious of the beats. I wrote the routine like that intentionally.
You have to move the exhaustion low to the 1H chart in your mind, and then tell me, what did not happen all the way down from 1.1728 to 1.1640-?
There was no thrust, so the low could not be trusted (the white stuff).
On the way up the beat coincided with the thrust. T3 was filled.
So what’s the Level 3 answer for finding the market top / the market bottom?
- Primo Elemento: 4H Exhaustion
- Secondo Elemento: Beat / Beat Attempt
- Terzo Elemento: Thrust / No Drive