The W4 Misery

Waves are sort of becoming my field.

I have found some of the answers more than once, so my exercise is coming up with reminders for myslef.

A W4 can make its own support / resistance. Once returning within the volatility bracket, out of 3 fractals the furthest open / close would become this level.

int ucounter=0;
int dcounter=0;
double llevel;
double ulevel;

while (i<100)
   if (High[i]<iBands(symbol,0,30,2,0,PRICE_MEDIAN,MODE_UPPER,i)+50*Point && High[i+1]>iBands(symbol,0,30,2,0,PRICE_MEDIAN,MODE_UPPER,i+1)+50*Point) break;
if (i<100){
   if (iFractals(symbol,0,MODE_LOWER,j)) {dcounter++; if (Close[j]<llevel) llevel=Close[j];}
   if (dcounter>2) break;
if (j>0){
   ObjectDelete( "Gent");
   ObjectCreate( "Gent", OBJ_HLINE, 0,  Time[0], llevel);
               ObjectSet("Gent", OBJPROP_COLOR, clrCyan );
               ObjectSet("Gent", OBJPROP_WIDTH, 3 );
               ObjectSet("Gent", OBJPROP_RAY_RIGHT, false );
               ObjectSet("Gent", OBJPROP_STYLE, 1 );
               ObjectCreate("CLine"+IntegerToString(j), OBJ_TEXT, 0, Time[j], llevel-20*Point);
                 ObjectSetText("CLine"+IntegerToString(j), " BUY: "+DoubleToStr(NormalizeDouble(llevel,4),4), 14, "Impact", White);   
       ObjectCreate("CLineL"+IntegerToString(j), OBJ_TEXT, 0, Time[j], llevel-20*Point); 
   ObjectSetText("CLineL"+IntegerToString(j), "BUY: "+DoubleToStr(NormalizeDouble(llevel,4),4), 14, "Impact", Purple);   

What is one of the rules of Elliott Wave? That a Wave 1 and a Wave 4 cannot overlap? Lunacy.

Misery, why don’t you come to me? At this point the upper BB is trending lower.
In order the W4 support to work, the 4H RSI’s 20 SMA has to give its blessing, otherwise opt for the S1 / R1 for an entry.

This is still a Wave 4 until the Overdrive band gets popped on the downside approving the down move as a Wave1 down.

Overdrive starts at 9690

A bit of New Wave is in order here

Xtension fill, lower overdrive band missed & the stronger move called Wave 5 impulse up.