Inauguration of a Wave 1

There are 2 qualifiers to a Wave 1.

1. Substantial counter directional volatility breach

This is measured by the 30-smaple Hourly HL2 Bollinger Bands where a 36+ pips outside would qualify,

2. Relative strength hitting new wave territory

This is is measured by the 14-sample RSI’s 2-standard deviation bands as limiters.

In general these events above should occur within 2, maximum 4 hourly fractal prints.

If only one or none of the criteria happens, the Wave 1 attempt is considered a failure, price has to return to the Opening / Closing price of the last Thrust, form where a new Wave 1 attempt can be conducted.

Examples

1-2-3, 1-2-3 Drink
A late bloomer with no keel back.
Surprise, cockfags! I ain’t never coming home!
I had a Buggy for a while, a VW Bug conversion in Red with a soft top.

I wanna jump start my chandellier…

Thrust
Bow back (5 waves back) to closing price
Wave 1 to achieve 36 pips+ beyond BB30 & New Wave RSI Deviation print
Wave 2 back testing into the bow
Wave 3 E&B
Wave 4 scaring / back testing W1 fractals
Wave 5 ending in Thrust