Head Chokes

Back to the pendulum.

The ruler on the right measures the distance achieved within the pendulum (from the consolidation mean).

A no-break extension is a terminal move. It is a lower low or a higher high made with the extra rope gained by the price consolidating, but overall, it is not progress. It is a bus pulling forward to the end of a terminal without ever leaving it (hence, it is not a breakout).

The THRST is about 46 pips from the mean.

Now, the HEAD depth is 58 pips, which is still shy for having absolutely gained the right to a continuation. For that you need a minimal W1 depth which is 68 pips. Yet, the price in this case has gotten outside the fluctuation maximum. So what the HEAD is is a big question mark. There should be a debate taking place.

The two circled things were two such debates. The way this gets decided is if the price gets to consolidate before hitting the 16 EMA (HL2) and manages to stay above it, then the head was acknowledged, it is OK to continue, a HEAD CHOKE has taken place.

Now, if you go back to the first image, there were two red 3X BB out markers (fractal outside the 30, 120 and 240 BBs).

The last time this happened, after the second the price returned to the E44, then proceeded to make a third, final one.

The 3rd print was a higher high (11 more pips), but if you are running my Stochastic Bars Hybrid, you would be able to spot the death of the momentum.