Aleš’s Lessons #21 – Considerable Events

I want to point out two pieces of useful information today.

1st: it is helpful to understand a level that does not have a plot of any kind, yet is very informative in trading.

Try not to pay attention to the yellow high lights, they have their own logic, but don’t take them on as your bias.

Pay attention to the relationship between the ovalled numbers and the levels where the market throws in the towel / is experiencing great difficulties to proceed.

Actual high on Friday was 1.18368 + .002 = 1.18568 – circled white.

If you came up with an approximate number of 20 pips shy, congratulations.

This distance is the instrument dependent distance from the consolidation weight known as fluctuation maximum (I refer to it as sound barrier on occasions). Only a Wave 3 has the ability to clear this level.

2nd thing is the 12-sample bracket. Learn to think like this:

Plateau – break; plateau – fade

When you had two of these occurring back to back, try to suspend enforcing continuation sells / buys

an example from the upside as well

You had 5 wolf cries before the the moratorium of the last NoDrive call choked and reversed price for good.

property copyright "by Macdulio"
 property link      "forexfore.blog"
 property description "12-sample high & low"
 property indicator_chart_window
 property indicator_buffers 2
 extern int lookback = 300;
 int       Range_n=12;
 double HighBuffer30[];
 double LowBuffer30[];
 //+------------------------------------------------------------------+
 //| Custom indicator initialization function                         |
 //+------------------------------------------------------------------+
 int init()
   {
 SetIndexBuffer(0,HighBuffer30);
    SetIndexStyle(0,DRAW_LINE,2,4,White);
 SetIndexBuffer(1,LowBuffer30);
    SetIndexStyle(1,DRAW_LINE,2,4,White);
 //----
    return(0);
   }
 //+------------------------------------------------------------------+
 //| Custom indicator iteration function                              |
 //+------------------------------------------------------------------+
 int start()
 {
 int    i;             // Number of counted bars
 string symbol = Symbol();
 ArrayResize(HighBuffer30, Bars);   
  ArrayInitialize(HighBuffer30, EMPTY_VALUE);  
 ArrayResize(LowBuffer30, Bars);   
  ArrayInitialize(LowBuffer30, EMPTY_VALUE);  
 //--------------------------------------------------------------------
    for (i = lookback ; i >0; i--) {      HighBuffer30[i]=HighBuffer30[i+1];      LowBuffer30[i]=LowBuffer30[i+1];      HighBuffer30[i]=iHigh(symbol,0,iHighest(symbol,0,MODE_HIGH,Range_n,i));      LowBuffer30[i]=iLow(symbol,0,iLowest(symbol,0,MODE_LOW,Range_n,i));   }
 return(0);
   }