As Leon, the perpetrator said, the last thing you need to learn, is the close combat. Knife Fight in our case means getting the wave structure right.

I made one mistake on this image:

Thanks to the new”C, sell W2″ pullback plot I can now say that the move up, that was looking like one continuous impulse move was infact an ABC move at a very high speed. This brings me to an interesting dilemma: I called this “No challenge of volatility”, but was there no challenge when price did show up at the rink only it brought Adidas to a knife fight?

Corrected image below:

I’ll spare you the zoom in.

Tom Hanks to RSI2, I do keep an eye out for continuation divergences I.e. the one between wave 2 and Wave 4. I did get in on this short for instance.

This brings us again to Elliott Beethoven. Can you patent subjectivity?

I have learnt the 5 wave structure by experience, by using RSI2 HL2 on the hourly and naming a certain divergence a continuation divergence.

I decided on giving a plot to a Volatility Breach Reversal, found that this is great guidance for where that Wave 3 possibly ended, and saw that this was good.

   if (High[i+2]>iBands(symbol,0,30,2,0,PRICE_MEDIAN,MODE_UPPER,i+2)+60*Point && High[i+4]<iBands(symbol,0,30,2,0,PRICE_MEDIAN,MODE_UPPER,i+4) && Close[i+1]<iBands(symbol,0,30,2,0,PRICE_MEDIAN,MODE_UPPER,i+1) && Close[i+1]<High[i+2]-(High[i+2]-Low[i+2])/1.5 && High[i+2]-Low[i+2]>100*Point
     && iBands(symbol,0,30,2,0,PRICE_MEDIAN,MODE_UPPER,i+1)-iBands(symbol,0,30,2,0,PRICE_MEDIAN,MODE_LOWER,i+1)>820*Point
   ){
            ObjectCreate("Pal"+IntegerToString(i), OBJ_RECTANGLE, 0,  Time[i+3], iHigh(symbol,0,iHighest(symbol,0,MODE_HIGH,3,i)), Time[i], Close[i]+50*Point);
            ObjectSetInteger(0,"Pal"+IntegerToString(i),OBJPROP_COLOR,clrSalmon);
            ObjectSet("Pal"+IntegerToString(i),OBJPROP_BACK,1);
            ObjectSet("Pal"+IntegerToString(i),OBJPROP_WIDTH,5);
   }
   if (Low[i+2]<iBands(symbol,0,30,2,0,PRICE_MEDIAN,MODE_LOWER,i+2)-30*Point && Low[i+4]>iBands(symbol,0,30,2,0,PRICE_MEDIAN,MODE_LOWER,i+4) && Close[i+1]>iBands(symbol,0,30,2,0,PRICE_MEDIAN,MODE_LOWER,i+1) && Close[i+1]>Low[i+2]+(High[i+2]-Low[i+2])/1.5 && High[i+2]-Low[i+2]>100*Point
   
   ){
            ObjectCreate("Pal"+IntegerToString(i), OBJ_RECTANGLE, 0,  Time[i+3], iLow(symbol,0,iLowest(symbol,0,MODE_LOW,3,i)), Time[i], Close[i]-50*Point);
            ObjectSetInteger(0,"Pal"+IntegerToString(i),OBJPROP_COLOR,clrYellowGreen);
            ObjectSet("Pal"+IntegerToString(i),OBJPROP_BACK,1);
            ObjectSet("Pal"+IntegerToString(i),OBJPROP_WIDTH,5);
   }

Yet it isn’t me who is arrogant here. I don’t start sentences like “I still think” (which is only a smidge shy of “why don’t you” or “my frined”) like FX Pippoletto does, whom came in as number 2; not that he has nothing to learn from, but this is not condusive with being inconclusive.

So, what was this period after the 5 waves down? Coda. Sonido electronico. The gear selector. First Gear 3 was selected then Gear 5. Now we are in the run up. Maximum 5 hourly closes below the 8 EMO would be allowed.

Elliott Symphony 5 has nothing on this.

         if (High[i+5]<iBands(symbol,0,30,2,0,PRICE_MEDIAN,MODE_UPPER,i+5)-100*Point && High[i+4]<iBands(symbol,0,30,2,0,PRICE_MEDIAN,MODE_UPPER,i+4)-100*Point
            && High[i+3]<iBands(symbol,0,30,2,0,PRICE_MEDIAN,MODE_UPPER,i+3) && High[i+3]>iBands(symbol,0,30,2,0,PRICE_MEDIAN,MODE_UPPER,i+3)-130*Point
            && High[i+2]<iBands(symbol,0,30,2,0,PRICE_MEDIAN,MODE_UPPER,i+2) && High[i+2]>iBands(symbol,0,30,2,0,PRICE_MEDIAN,MODE_UPPER,i+2)-100*Point
            && High[i+1]<iBands(symbol,0,30,2,0,PRICE_MEDIAN,MODE_UPPER,i+1) && High[i+1]>iBands(symbol,0,30,2,0,PRICE_MEDIAN,MODE_UPPER,i+1)-100*Point
            && Close[i]<Close[i+1]           
           ){
                  ObjectCreate("Nochz"+IntegerToString(i), OBJ_TEXT, 0, Time[i+4], Close[i+1]+90*Point); 
                  ObjectSetText("Nochz"+IntegerToString(i), "   (C) Sell: (2) @ "+DoubleToStr(NormalizeDouble(iClose(symbol,0,iHighest(symbol,0,MODE_CLOSE,2,i)),4),4), 26, "Impact", White);
                  ObjectCreate("Noch"+IntegerToString(i), OBJ_TEXT, 0, Time[i+4], Close[i+1]+90*Point); 
                  ObjectSetText("Noch"+IntegerToString(i), "  (C) Sell: (2) @ "+DoubleToStr(NormalizeDouble(iClose(symbol,0,iHighest(symbol,0,MODE_CLOSE,2,i)),4),4), 26, "Impact", DeepPink);
            }