I can tell you how things work for real, but not sure what you are going to do with it without plots and proper indicators.

First, get used to the letters. M stands for measuring leg, the EM is an Expansionary Measuring Leg (override) and D is the Divergent leg.

The brown diagonal line is the 10-pips kick back of the EM on the downside that started this prolonged move down.

Yes, this wave is complete to the downside.

Now, why did I text to my coworker today at the open that this could come down to 1.1050?

These were the levels to work with based on the last condolidation mean:

These numbers I refer to as W3C(close end) for the first number and W3F(far end) for the second number. M would be the middle.

When you get a follow-through (up to 13 pips kickback bought) of the EM, you are in a Wave 3.

If you are the visual type, the orange square is the likely target area (bell curve).

This of course is carried over statistical knowledge.

As for finding the consolidation mean, I would use 12-sample CI on the hourly, but for better accuracy, I have actually reached after 15-minute data and half that candle to find the value (48-sample of course). A cross-over above 53 is considered a full charge and 65+ would mean an extra high charge.

I know, this has nothing to do with Inner City Mama’s lectures.

Now to provide you with some garden variety trading stuff, here is the latest Shapiro.

& I have a tendency to pull out my remaining hair every time I hear about Umar Ashraf and his Tradezella.

Who are these people, what do they want and why don’t they just roll over and die???!

Trading menu

ML squeeze breakout w/ 0.2/2 trail -> volatility expansion reversal moratorium

EML1 breakout (kick back <15 pips) trail TGT W3M

EML1 failure (kickback >15 pips) scale in – TGT 50 pips (not preferred near the E50)
EML2 kickback 18, 28, 38 pips size based on control functions alignment TGT 50, 60, 70 pips

…

A Wave 4 up would break above the SOB confirming that the volatility compression program was turned off (allowing) for a pullback greater than 31 pips. A Wave 5 down would likely print a lower low, but not necessarily by much.