I think you are going to really appreciate this one. You may warm up to the subject by looking at my recent articles – they all revolve around the subject of channeling.
The first thing to say is that the answers are on the hourly chart.
The second, is that legs (not waves) come in 3s.
The third is that the first two legs pick a moving average, the 2nd leg gives exact entry for the 3rd leg &
The fourth is that the ultimate goal is achieving a beat beyond the outlier fractal.
Now, let’s look at example 1.
What makes a leg a leg is that the commute to the other side of the moving average takes less than 3 hours from the fractal print.
Leg 1, 2, 3 tend to shape up around the E-16 HL2 (stands for exponential, median). The count does not start until the other side has finished with their 6, 9, 12 rolls on the dice.
In the example above 4 and 5 did not make it to the E-32, so they decided to stick with the E-16. Happens sometimes. Once 4 and 5 was printed, you knew the location of the entry. How? You take the difference between the E-16 and #5 and deduct 4 pips.
The point here is that the 3 things to concentrate on are: leg count, participation in leg 3, 6, 9, 12, getting out on the beat.
Surprise, surprise, it is not about support and resistance (at least not static ones at that), not about harmonics and Fibonaccis, and not even trendlines for the entries, nor for the exits. Leg 3 has certain characteristics and so does leg 6.
You are welcome.
the projected distance 240 routine carries the same logic of outlier / beat or drive & thrust, it gives you an idea on how far the market could reach based on the intensity of the current move