Send me a stranger, right now.
Decisive moves. Let’s start pulling on this thread.
Sample size of 3.
Say true things.
Thesis: after a decisive move you’ll see one or more addotional legs until the last swing distance exceeds 95 pips (plus a No Break Extension – extra 40 pips may or may not be in the cards). This would represent the finishing wave structure, quasi the decisive move kick starts a terminal Wave structure that ends up culminating in a capitulation. Gaps are signs of impulse waves.
Figeroa 1: the second swing up went from 9998 to 1.0094
Figeroa 2: the next swing went from 9873 to 9728
Figeroa 3: the second swing went from 9901 to 1.0006
I guess the wave count dilemma never really was one in the ligth of this highlight. As you can see, a gap down is not necessarily a bearish thing (especially when gapping into the 8-hour EMA), it is simply a re-balancing act. A good lesson this was, I hope I shall remember it going forward. The difference could be money bags vs body bag.
What’s in a bird?
I saw the sign, La Isla Bhagavad Gita & I opened up my flies. I saw the sign.