Once you have the E-9 Daily Band in place and you plot the guard rails 1-fluctuation maximum out, you may start to ponder if the breach of the E-9 is a must for a Wave 1 print, and perhaps something else may be required before a Wave 3 can commence.

Such a system makes sense to me, even if some of the first waves would later be renamed as an A.

The 4H RSI2 HL2 has to print an overbought/oversold value (70+, 30-) at the end of Wave 2 before the rest of the structure can commence.

At times the pullback may be so shallow, that it would become a target for a beat.

These “Expansions” are suggestive of a corrective structure.

All in all, Wave 2 seems to always end in a Lower High / Higher Low.

Like I said before, my proxy on the 4H for the E-9 is E-52. The FMax value is 38.4 pips measured from the E-52 Lows and the E-52 highs.