End Game related thoughts.
The end game is taking place away from the E9 & the S20 daily.
Optimal conditions include more distance = less draw. Think of this break like getting into the stratosphere. No gravity until price re-enters the atmoshphere.
The Game is usually kick started by trapping.
In terms of wave structure, you must already have seen 2 large legs away from the E9, so it would be a Wave 5 by counts, but it is not at all likely to stop at a single leg.
In fact, you would see increasing length swings in the prevailing direction until a 100 pips+ hourly swing shows up. Volatility increasing = less order density – air pockets.
Then price would have to make it back to the hourly 8EMO and close at least twice below it.
Yet, the whole thing can be extended again if the 8EMO gets closed back over twice (see my Hedge Hammer blog entry).
Other tools that may help finding the right spot are the 4H RSI14 HL2 Bollinger Bands and the hourly 18-sample slow stoch: for instance if you get a 98+ print on the upside then you could capitalize on the knowledge that impulse waves don’t end on strength, and a higher high is missing with a lower stochastic reading for a reversal divergence at the new swing.
For a reset after this outre whack move, aim for the daily S30. Add to the fade every time the hourly 8EMO catches up with the price.
I drew the red line in the morning parallel with the white (5x) expecting that the thrust would fall shy of the line – it ended up touching it. The 8EMO is 18 sample on the 30-min. I found it to be more accurate when I was making the targeter.
Fractal evaluation: wave 5 of Wave 3 had 3 fractals, although 2 were not picked up by Billy W. Speed may be asynchronous with a given time frame, use your imagination, or go a frame lower.
Wave 5 printed 3 fractals.
Between w3 and w5 of Wave5 there was a PPI touchdown on the orange 8EMO. Interesting, not?
I would consider the separating line of the statosphere and the atmosphere to be 45 pips away from the Hourly E-32 HL2.
We may see a bow back within the first 14 hours following the thrust before the Wave 1 down.
I’m scaling back in with shorts up to the 8EMO or so.
In a nutshell for now.