How would you know that this Wave 3 up is over, and you are in a Wave 4 correction?

The answer is Fractal Evaluation.

You need a Fractal outside the 30-sample BB and then count to 4 and look at the location of that candle relative to the BB and the 8 EMO.

The following 2 pictures show N (meaning Neutral with a Green tinge for being above the 9D EMA). The three quarters is a reminder that even during questionable times there should be a move 3/4 way up to the upper BB as a relatively safe exit.

The last example is how Wave 2 down behaved.

The N¾ had its move to 3/4 ways and even poked out above the upper BB before another leg down which pierced below the municipal trench (E207L). The swing low in front of the N was violated.

Then, there was a Green arrow up – fractal evaluation.

//// fractal + 4 evaluator downside
if (Low[i+4]<iBands(symbol,0,30,2,0,PRICE_MEDIAN,MODE_LOWER,i+4) && iFractals(symbol,0,MODE_LOWER,i+4) && (iBands(symbol,0,30,2,0,PRICE_MEDIAN,MODE_UPPER,i)-iBands(symbol,0,30,2,0,PRICE_MEDIAN,MODE_LOWER,i))>400*Point)
{
    ObjectCreate("HOT"+i,OBJ_TEXT, 0, Time[i],Low[i]-90*Point);
    ObjectSetText("HOT"+i,"N-¾", 26, "Impact", clrGreen);
    if (Low[i]<iMA(symbol,0,356,0,MODE_SMA,PRICE_MEDIAN,i))       ObjectSetText("HOT"+i,"N-¾", 16, "Impact", clrMagenta);
  
    if (High[i]<iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,i) && Open[i]>Close[i]) ObjectSetText("HOT"+i,CharToStr(234), 26, "Wingdings", clrRed);
     if (Close[i]>iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,i)-20*Point && Open[i]<Close[i] && ExtATRBuffer2[i]>25 && (ExtATRBuffer2[i]<41 || ExtATRBuffer2[i]>110)) ObjectSetText("HOT"+i,CharToStr(233), 26, "Wingdings", clrGreen);  
}

The first deeper correction was brought on by a gray volatility divergence / last effort print.

For the gray divergence in general you are looking for an hourly fractal candle (200 sample new high) that closes back down by 1/3. It is important that it would take 2 more candles to close below the 8 EMO.

The last effort decline is a charge on the 30-sample BB that gets almost missed and the next candle makes a low below the 8EMO (red) or the following does (yellow).

The correction itself got down to S3. This ABC move had an 8&8 red dot symmetry.

The yellow volatility compression divergences have been useless. The reason is that the price can get back below the 8EMO within 2 hours. This is not enough separation.

This correction had a 5&5 red dot symmetry.

In both cases, the correction low and the end of wave red counts were in different locations.

With this rally, there has been one gray divergence. The first peak did not become a divergence, as it was not a fractal print.

What was the same in both highs is the re-connect with the 8 EMO before the last push 20, 40 pips higher. What’s missing first then?

The good news is that the first gray divergence should prompt the reunion with the magenta, where you could overhedge for a new high 8-26 pips beyond 1.12

Could see a quick drop / a prolonged sideways move or a combination.

1.1175 – three times out.

They purchased the first E-level dip.

There should be a higher high printing next week and for a Swing High print, the close would have to be 91 pips below the most recent peak.

What should follow after that is a Swing Low that would have to be at least 266 pips below.

This is why the 1.10 support calls are off. A wave 4 down could stop at the S3 cca 1.11 and that’s about where the volatility lines should converge.

The E-9 is coasting above 1.1080 right now, and the dilated 30-min E-414 Band to E-712 (43 pips wide) is going to have to prove impossible to cross if the swing high isn’t for real.

So, 1.1090-1.1060 for a Wave 4 low or below 1.0940 for a new swing low.

Interestingly the weekly Push plots at 1.1225, echo at 1.1310

The purple square is the expectation of the pullback between the push and the echo.

A Jackson hole script.

The price is currently at the SOB.

I don’t expect it to break without a drop first.

I believe that the algos are going to make the price up and down with every second sentence.

If the SOB breaks, there is 70-86 pips from yesterday’s low as a last leg up. The high is in the scope, up to 1.1194 nothing would be out of ordinary.

I have the most aggressive MF at the desk at the broker, he pushed up the spread to 120 points last night as a warmup, so I have no choice but to be fully hedged for this one.

Finally, you’ve found someone who does not promote a religious investment in magical lines, magical percentages with decimals, the magical world of Disney, Insane Clown Possee concepts, TTT sneeze, or a masked dude on YouTube selling an indicator whilst claiming a World Record that was never certified by a third party.

What you are looking at is the color-coded evaluation of the last 10 closes (current print excluded) relative to the 8 EMO.

The pit marker is only red if the current candle and the previous two closed below the EMO.

The pit marker is only green if the current candle and the previous two closed above the EMO.

Black is any other case.

There are several ways this can be useful, the 10-hour balance, and the last 3 prints, to determine if the market is a sell or a buy (this does not mean at market necessarily).

The biggest feature is after starting at this long enough is that the market does not turn on a dime, a reaction off a level does not automatically equate to a reversal and summa summarum there are only two cases that can lead to a reversal – rally.

See, after a red dot if the current candle decides to make a run, the rally would fail and you do not need to hedge/overhedge.

Each sustainable rally would require a black dot on the prior candle and the current candle either closing 5 pips+ higher than the EMO or printing a Doji just above the EMO.

The reversal is looking good, S2 reacted and there was a bounce back up to S1. Nothing says to buy.

//////////////Pit Array
if (Period()==60){
//10
if (Close[13]<iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,13) && Close[12]<iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,12) && Close[11]<iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,11)) 
pit[10]=-1;
if (Close[13]>iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,13) && Close[12]>iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,12) && Close[11]>iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,11)) 
pit[10]=1;
//9
if (Close[12]<iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,12) && Close[11]<iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,11) && Close[10]<iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,10)) 
pit[9]=-1;
if (Close[12]>iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,12) && Close[11]>iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,11) && Close[10]>iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,10)) 
pit[9]=1;
//8
if (Close[11]<iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,11) && Close[10]<iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,10) && Close[9]<iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,9)) 
pit[8]=-1;
if (Close[11]>iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,11) && Close[10]>iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,10) && Close[9]>iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,9)) 
pit[8]=1;
//7
if (Close[10]<iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,10) && Close[9]<iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,9) && Close[8]<iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,8)) 
pit[7]=-1;
if (Close[10]>iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,10) && Close[9]>iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,9) && Close[8]>iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,8)) 
pit[7]=1;
//6
if (Close[9]<iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,9) && Close[8]<iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,8) && Close[7]<iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,7)) 
pit[6]=-1;
if (Close[9]>iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,9) && Close[8]>iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,8) && Close[7]>iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,7)) 
pit[6]=1;
//5
if (Close[8]<iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,8) && Close[7]<iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,7) && Close[6]<iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,6)) 
pit[5]=-1;
if (Close[8]>iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,8) && Close[7]>iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,7) && Close[6]>iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,6)) 
pit[5]=1;
//4
if (Close[7]<iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,7) && Close[6]<iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,6) && Close[5]<iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,5)) 
pit[4]=-1;
if (Close[7]>iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,7) && Close[6]>iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,6) && Close[5]>iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,5)) 
pit[4]=1;
//3
if (Close[6]<iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,6) && Close[5]<iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,5) && Close[4]<iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,4)) 
pit[3]=-1;
if (Close[6]>iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,6) && Close[5]>iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,5) && Close[4]>iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,4)) 
pit[3]=1;
//2
if (Close[5]<iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,5) && Close[4]<iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,4) && Close[3]<iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,3)) 
pit[2]=-1;
if (Close[5]>iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,5) && Close[4]>iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,4) && Close[3]>iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,3)) 
pit[2]=1;
//1
if (Close[4]<iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,4) && Close[3]<iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,3) && Close[2]<iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,2)) 
pit[1]=-1;
if (Close[4]>iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,4) && Close[3]>iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,3) && Close[2]>iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,2)) 
pit[1]=1;
//0
if (Close[3]<iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,3) && Close[2]<iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,2) && Close[1]<iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,1)) 
pit[0]=-1;
if (Close[3]>iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,3) && Close[2]>iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,2) && Close[1]>iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,1)) 
pit[0]=1;


deletetxt1("PENELOPE");

  ObjectCreate("PENELOPE"+0,OBJ_LABEL,0, 0,0);
  ObjectSet("PENELOPE"+0,OBJPROP_CORNER,1);
  ObjectSet("PENELOPE"+0,OBJPROP_XDISTANCE,305);
  ObjectSet("PENELOPE"+0,OBJPROP_YDISTANCE,510);
  ObjectSetText("PENELOPE"+0,CharToStr(108),19,"Wingdings");
  ObjectSet("PENELOPE"+0,OBJPROP_COLOR,clrBlack); 
  if (pit[0]>0) ObjectSet("PENELOPE"+0,OBJPROP_COLOR,clrGreen); 
  if (pit[0]<0) ObjectSet("PENELOPE"+0,OBJPROP_COLOR,clrRed);  
  
  ObjectCreate("PENELOPE"+1,OBJ_LABEL,0, 0,0);
  ObjectSet("PENELOPE"+1,OBJPROP_CORNER,1);
  ObjectSet("PENELOPE"+1,OBJPROP_XDISTANCE,320);
  ObjectSet("PENELOPE"+1,OBJPROP_YDISTANCE,510);
  ObjectSetText("PENELOPE"+1,CharToStr(108),19,"Wingdings");
  ObjectSet("PENELOPE"+1,OBJPROP_COLOR,clrBlack); 
  if (pit[1]>0) ObjectSet("PENELOPE"+1,OBJPROP_COLOR,clrGreen); 
  if (pit[1]<0) ObjectSet("PENELOPE"+1,OBJPROP_COLOR,clrRed); 

  ObjectCreate("PENELOPE"+2,OBJ_LABEL,0, 0,0);
  ObjectSet("PENELOPE"+2,OBJPROP_CORNER,1);
  ObjectSet("PENELOPE"+2,OBJPROP_XDISTANCE,335);
  ObjectSet("PENELOPE"+2,OBJPROP_YDISTANCE,510);
  ObjectSetText("PENELOPE"+2,CharToStr(108),19,"Wingdings");
  ObjectSet("PENELOPE"+2,OBJPROP_COLOR,clrBlack); 
  if (pit[2]>0) ObjectSet("PENELOPE"+2,OBJPROP_COLOR,clrGreen); 
  if (pit[2]<0) ObjectSet("PENELOPE"+2,OBJPROP_COLOR,clrRed); 

  ObjectCreate("PENELOPE"+3,OBJ_LABEL,0, 0,0);
  ObjectSet("PENELOPE"+3,OBJPROP_CORNER,1);
  ObjectSet("PENELOPE"+3,OBJPROP_XDISTANCE,350);
  ObjectSet("PENELOPE"+3,OBJPROP_YDISTANCE,510);
  ObjectSetText("PENELOPE"+3,CharToStr(108),19,"Wingdings");
  ObjectSet("PENELOPE"+3,OBJPROP_COLOR,clrBlack); 
  if (pit[3]>0) ObjectSet("PENELOPE"+3,OBJPROP_COLOR,clrGreen); 
  if (pit[3]<0) ObjectSet("PENELOPE"+3,OBJPROP_COLOR,clrRed); 
  
  ObjectCreate("PENELOPE"+4,OBJ_LABEL,0, 0,0);
  ObjectSet("PENELOPE"+4,OBJPROP_CORNER,1);
  ObjectSet("PENELOPE"+4,OBJPROP_XDISTANCE,365);
  ObjectSet("PENELOPE"+4,OBJPROP_YDISTANCE,510);
  ObjectSetText("PENELOPE"+4,CharToStr(108),19,"Wingdings");
  ObjectSet("PENELOPE"+4,OBJPROP_COLOR,clrBlack); 
  if (pit[4]>0) ObjectSet("PENELOPE"+4,OBJPROP_COLOR,clrGreen); 
  if (pit[4]<0) ObjectSet("PENELOPE"+4,OBJPROP_COLOR,clrRed); 

  ObjectCreate("PENELOPE"+5,OBJ_LABEL,0, 0,0);
  ObjectSet("PENELOPE"+5,OBJPROP_CORNER,1);
  ObjectSet("PENELOPE"+5,OBJPROP_XDISTANCE,380);
  ObjectSet("PENELOPE"+5,OBJPROP_YDISTANCE,510);
  ObjectSetText("PENELOPE"+5,CharToStr(108),19,"Wingdings");
  ObjectSet("PENELOPE"+5,OBJPROP_COLOR,clrBlack); 
  if (pit[5]>0) ObjectSet("PENELOPE"+5,OBJPROP_COLOR,clrGreen); 
  if (pit[5]<0) ObjectSet("PENELOPE"+5,OBJPROP_COLOR,clrRed); 
  
  ObjectCreate("PENELOPE"+6,OBJ_LABEL,0, 0,0);
  ObjectSet("PENELOPE"+6,OBJPROP_CORNER,1);
  ObjectSet("PENELOPE"+6,OBJPROP_XDISTANCE,395);
  ObjectSet("PENELOPE"+6,OBJPROP_YDISTANCE,510);
  ObjectSetText("PENELOPE"+6,CharToStr(108),19,"Wingdings");
  ObjectSet("PENELOPE"+6,OBJPROP_COLOR,clrBlack); 
  if (pit[6]>0) ObjectSet("PENELOPE"+6,OBJPROP_COLOR,clrGreen); 
  if (pit[6]<0) ObjectSet("PENELOPE"+6,OBJPROP_COLOR,clrRed); 

  ObjectCreate("PENELOPE"+7,OBJ_LABEL,0, 0,0);
  ObjectSet("PENELOPE"+7,OBJPROP_CORNER,1);
  ObjectSet("PENELOPE"+7,OBJPROP_XDISTANCE,410);
  ObjectSet("PENELOPE"+7,OBJPROP_YDISTANCE,510);
  ObjectSetText("PENELOPE"+7,CharToStr(108),19,"Wingdings");
  ObjectSet("PENELOPE"+7,OBJPROP_COLOR,clrBlack); 
  if (pit[7]>0) ObjectSet("PENELOPE"+7,OBJPROP_COLOR,clrGreen); 
  if (pit[7]<0) ObjectSet("PENELOPE"+7,OBJPROP_COLOR,clrRed); 

  ObjectCreate("PENELOPE"+8,OBJ_LABEL,0, 0,0);
  ObjectSet("PENELOPE"+8,OBJPROP_CORNER,1);
  ObjectSet("PENELOPE"+8,OBJPROP_XDISTANCE,425);
  ObjectSet("PENELOPE"+8,OBJPROP_YDISTANCE,510);
  ObjectSetText("PENELOPE"+8,CharToStr(108),19,"Wingdings");
  ObjectSet("PENELOPE"+8,OBJPROP_COLOR,clrBlack); 
  if (pit[8]>0) ObjectSet("PENELOPE"+8,OBJPROP_COLOR,clrGreen); 
  if (pit[8]<0) ObjectSet("PENELOPE"+8,OBJPROP_COLOR,clrRed); 

  ObjectCreate("PENELOPE"+9,OBJ_LABEL,0, 0,0);
  ObjectSet("PENELOPE"+9,OBJPROP_CORNER,1);
  ObjectSet("PENELOPE"+9,OBJPROP_XDISTANCE,440);
  ObjectSet("PENELOPE"+9,OBJPROP_YDISTANCE,510);
  ObjectSetText("PENELOPE"+9,CharToStr(108),19,"Wingdings");
  ObjectSet("PENELOPE"+9,OBJPROP_COLOR,clrBlack); 
  if (pit[9]>0) ObjectSet("PENELOPE"+9,OBJPROP_COLOR,clrGreen); 
  if (pit[9]<0) ObjectSet("PENELOPE"+9,OBJPROP_COLOR,clrRed); 

  ObjectCreate("PENELOPE"+10,OBJ_LABEL,0, 0,0);
  ObjectSet("PENELOPE"+10,OBJPROP_CORNER,1);
  ObjectSet("PENELOPE"+10,OBJPROP_XDISTANCE,455);
  ObjectSet("PENELOPE"+10,OBJPROP_YDISTANCE,510);
  ObjectSetText("PENELOPE"+10,CharToStr(108),19,"Wingdings");
  ObjectSet("PENELOPE"+10,OBJPROP_COLOR,clrBlack); 
  if (pit[10]>0) ObjectSet("PENELOPE"+10,OBJPROP_COLOR,clrGreen); 
  if (pit[10]<0) ObjectSet("PENELOPE"+10,OBJPROP_COLOR,clrRed); 


if (Close[0]>iMA(symbol,0,8,0,MODE_EMA,PRICE_MEDIAN,207)){
   
     if (pit[9]==0 && Close[11]<iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,11) 
      && (Close[10]>iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,10)+50*Point || (Close[10]>iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,10) && Open[10]-Close[10]<30*Point)))
    {
      ObjectCreate("PENELOPE"+12,OBJ_LABEL,0, 0,0);
      ObjectSet("PENELOPE"+12,OBJPROP_CORNER,1);
      ObjectSet("PENELOPE"+12,OBJPROP_XDISTANCE,440);
      ObjectSet("PENELOPE"+12,OBJPROP_YDISTANCE,490);
      ObjectSetText("PENELOPE"+12,CharToStr(241),19,"Wingdings");
      ObjectSet("PENELOPE"+12,OBJPROP_COLOR,clrGreen); 
  }
  if (pit[9]==0 && Close[10]<iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,10) 
      && (Close[9]>iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,9)+50*Point || (Close[9]>iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,9) && Open[9]-Close[9]<30*Point)))
    {
      ObjectCreate("PENELOPE"+13,OBJ_LABEL,0, 0,0);
      ObjectSet("PENELOPE"+13,OBJPROP_CORNER,1);
      ObjectSet("PENELOPE"+13,OBJPROP_XDISTANCE,425);
      ObjectSet("PENELOPE"+13,OBJPROP_YDISTANCE,490);
      ObjectSetText("PENELOPE"+13,CharToStr(241),19,"Wingdings");
      ObjectSet("PENELOPE"+13,OBJPROP_COLOR,clrGreen); 
  }
  if (pit[8]==0 && Close[9]<iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,9) 
      && (Close[8]>iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,8)+50*Point || (Close[8]>iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,8) && Open[8]-Close[8]<30*Point)))
    {
      ObjectCreate("PENELOPE"+14,OBJ_LABEL,0, 0,0);
      ObjectSet("PENELOPE"+14,OBJPROP_CORNER,1);
      ObjectSet("PENELOPE"+14,OBJPROP_XDISTANCE,410);
      ObjectSet("PENELOPE"+14,OBJPROP_YDISTANCE,490);
      ObjectSetText("PENELOPE"+14,CharToStr(241),19,"Wingdings");
      ObjectSet("PENELOPE"+14,OBJPROP_COLOR,clrGreen); 
  }
 if (pit[7]==0 && Close[8]<iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,8) 
      && (Close[7]>iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,7)+50*Point || (Close[7]>iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,7) && Open[7]-Close[7]<30*Point)))
    {
      ObjectCreate("PENELOPE"+15,OBJ_LABEL,0, 0,0);
      ObjectSet("PENELOPE"+15,OBJPROP_CORNER,1);
      ObjectSet("PENELOPE"+15,OBJPROP_XDISTANCE,395);
      ObjectSet("PENELOPE"+15,OBJPROP_YDISTANCE,490);
      ObjectSetText("PENELOPE"+15,CharToStr(241),19,"Wingdings");
      ObjectSet("PENELOPE"+15,OBJPROP_COLOR,clrGreen); 
  }
 if (pit[6]==0 && Close[7]<iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,7) 
      && (Close[6]>iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,6)+50*Point || (Close[6]>iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,6) && Open[6]-Close[6]<30*Point)))
    {
      ObjectCreate("PENELOPE"+15,OBJ_LABEL,0, 0,0);
      ObjectSet("PENELOPE"+15,OBJPROP_CORNER,1);
      ObjectSet("PENELOPE"+15,OBJPROP_XDISTANCE,380);
      ObjectSet("PENELOPE"+15,OBJPROP_YDISTANCE,490);
      ObjectSetText("PENELOPE"+15,CharToStr(241),19,"Wingdings");
      ObjectSet("PENELOPE"+15,OBJPROP_COLOR,clrGreen); 
  }
 if (pit[5]==0 && Close[6]<iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,6) 
      && (Close[5]>iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,5)+50*Point || (Close[5]>iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,5) && Open[5]-Close[5]<30*Point)))
    {
      ObjectCreate("PENELOPE"+16,OBJ_LABEL,0, 0,0);
      ObjectSet("PENELOPE"+16,OBJPROP_CORNER,1);
      ObjectSet("PENELOPE"+16,OBJPROP_XDISTANCE,365);
      ObjectSet("PENELOPE"+16,OBJPROP_YDISTANCE,490);
      ObjectSetText("PENELOPE"+16,CharToStr(241),19,"Wingdings");
      ObjectSet("PENELOPE"+16,OBJPROP_COLOR,clrGreen); 
  }   
 if (pit[4]==0 && Close[5]<iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,5) 
      && (Close[4]>iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,4)+50*Point || (Close[4]>iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,4) && Open[4]-Close[4]<30*Point)))
    {
      ObjectCreate("PENELOPE"+17,OBJ_LABEL,0, 0,0);
      ObjectSet("PENELOPE"+17,OBJPROP_CORNER,1);
      ObjectSet("PENELOPE"+17,OBJPROP_XDISTANCE,350);
      ObjectSet("PENELOPE"+17,OBJPROP_YDISTANCE,490);
      ObjectSetText("PENELOPE"+17,CharToStr(241),19,"Wingdings");
      ObjectSet("PENELOPE"+17,OBJPROP_COLOR,clrGreen); 
  }       
 if (pit[3]==0 && Close[4]<iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,4) 
      && (Close[3]>iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,3)+50*Point || (Close[3]>iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,3) && Open[3]-Close[3]<30*Point)))
    {
      ObjectCreate("PENELOPE"+18,OBJ_LABEL,0, 0,0);
      ObjectSet("PENELOPE"+18,OBJPROP_CORNER,1);
      ObjectSet("PENELOPE"+18,OBJPROP_XDISTANCE,335);
      ObjectSet("PENELOPE"+18,OBJPROP_YDISTANCE,490);
      ObjectSetText("PENELOPE"+18,CharToStr(241),19,"Wingdings");
      ObjectSet("PENELOPE"+18,OBJPROP_COLOR,clrGreen); 
  }        
 if (pit[2]==0 && Close[3]<iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,3) 
      && (Close[2]>iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,2)+50*Point || (Close[2]>iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,2) && Open[2]-Close[2]<30*Point)))
    {
      ObjectCreate("PENELOPE"+19,OBJ_LABEL,0, 0,0);
      ObjectSet("PENELOPE"+19,OBJPROP_CORNER,1);
      ObjectSet("PENELOPE"+19,OBJPROP_XDISTANCE,320);
      ObjectSet("PENELOPE"+19,OBJPROP_YDISTANCE,490);
      ObjectSetText("PENELOPE"+19,CharToStr(241),19,"Wingdings");
      ObjectSet("PENELOPE"+19,OBJPROP_COLOR,clrGreen); 
  }        
if (pit[1]==0 && Close[2]<iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,2) 
      && (Close[1]>iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,1)+50*Point || (Close[1]>iMA(symbol,0,8,0,MODE_EMA,PRICE_OPEN,1) && Open[1]-Close[1]<30*Point)))
    {
      ObjectCreate("PENELOPE"+20,OBJ_LABEL,0, 0,0);
      ObjectSet("PENELOPE"+20,OBJPROP_CORNER,1);
      ObjectSet("PENELOPE"+20,OBJPROP_XDISTANCE,305);
      ObjectSet("PENELOPE"+20,OBJPROP_YDISTANCE,490);
      ObjectSetText("PENELOPE"+20,CharToStr(241),19,"Wingdings");
      ObjectSet("PENELOPE"+20,OBJPROP_COLOR,clrGreen); 
  } 
 
  
}  




}

Achilles Dent: King Of My Pretzel

Achilles Dent: Tracktoring The House

With this severe volatility compression episode you better believe that this was a Wave 3.

If I called the counter directional volatility limited at S0 (41 pips) an S0 inferno, now we have seen how an S-1 inferno looks like with the limit being 21 pips out. I put a back line to mark this.

The extra-compressed inferno’s SOB level is listed as E. The first encounter is a buy as usual for the final play, that targets the Goldilocks level (70-86 pips from the dip low). On the way down, after the SOB (here E) gets broken, there will be no support until the two volatility lines converge.

Remember that I adjusted the Gray band to 3.8x stretch to find the final divergence? It just hit.

With numbers:

Yes, calling the Intermediate Swing High as of Today.

The first thing to point out is that there will be a higher high.

The Daily stochastic went so ridiculousky overbought that it would have to show slowing down by making a reversal divergence. That’s not to say that you cannot have a 77-90 pips dip in between.

The next long cover projection is at 1.1151. May or may not get there.

There is 1.1149 as the next weekly resistance line and there is a swing high just below that

The second thing should help you understand how embedding works.

The 120-sample stoch was staying overbought whilst the money flow was in a deflated state. This gave room for relentless buying until the money flow went red hot. I will make a hourly exit plot with 60-sample stoch and use 10-sample MFI making a peak above 85.

The volatility compression printed a 0.5 (anchor of the gray divg.), that should serve as hint for more divegences to come.

SOB is at 10-40. Over and out.

Let’s talk about gaps, baby.

The way the indices gap versus forex, 25 hrs markets are two different things.

The large players figured out a long time ago that they could move the market the best if they had a branch operating in Asia to guarantee their overnight gains for the US Cash trading session. The gaps occur over there often, on multiple days per week.

Forex follows a continuous Futures contract, on occasion, it can gap intraday around major news when all liquidity gets withdrawn for the market temporarily and the broker applies a 20x multiplier on the spread at the same time. These gaps can be a 10+ pips displacement, otherwise, the real gaps only happen from Friday night close to Sunday night open.

The market makers get a dose of orders and either hedge at the open (rare, like a gamma-squeeze is in Forex) or dump some of their holdings by giving fills that cause an initial push in the vacuum.

The first thing to say is that most Forex gaps would be trimming some imbalance, thus the move would occur in the direction of the Hourly 240 SMA. This re-balancing move secures some extra liquidity making the move last longer after the small recess.

Here are 2 examples of that:

Notice that at the close the market is decidedly outside 2 std deviations from the 240 SMA. Also notice that these last 2 gaps not just got closed, but made a marginal higher high (4 to 11 pips) before a dip a little lower and then a continuation move up.

The next example is a gap away from the 240 SMA:

So far every gap filled almost immediately.

The last example is a gap away – this is a rare event when the move is first riding the 2 std band and not pulling away from it by the close (accelerating). This gap took 3 days to fill.

These gaps can be 20-30 pips wide (and some of it is merely the spread).

As a rule of thumb, if the finish was within the bands, the market would gap away, inside the bands the market would gap towards the closer band.

This is a useful piece of information on making hedging decisions into the weekend.

The last thing to talk about is that a 140+ pips wide gap is not likely to close fully.

The 200-pip gap below only closed back 93. This is a weekly chart. Not sure what happened between the 16th and the 18th of May, 2017 but it had to be a serious central bank invention.

Friday’s close was outside the 2sd band, so it should be gapping down.

The first thing to appreciate is the nature of volatility expansion-contraction.

After the first push down (using the effort signal from the previous post), which expands the Bollingers, there comes a phase of contraction, when the opposite end gets tested usually 3 times before the next expansion leg down.

Yes, this time it was a bit different. I did say that the correction (at a minimum) is going to last until the two volatility lines converge.

Below is an earlier example.

The current move should had started the contraction dance, but the SOB was broken to the upside (yellow-purple line at 1.10).

This was a bit unexpected (the SOB tends to be like let, not-let, let), but then again, the convergence also happened above the municipal trench.

This move could be a recess to the Safety line –

the Partial discharge triggered the move to the 2.8

Or a plain old Wave 2 (bow back) to the top of the MA ribbon.

One weekly close outside the resistance line may end up being a fake-out.

That yellow divider between a regular weekly swing and an intermediate swing may end up proving to be resistance.

---

4 months, 400 tracks produced & published. Already feeling like I was granted an extra life.

Album #20

///effort candle on the upside, return in 2
if (Low[i]High[i+1] && High[i+2]>High[i+3] &&
High[i+2]>iBands(symbol,0,30,2,0,PRICE_MEDIAN,MODE_UPPER,i+2)-10Point && (ExtATRBuffer[i]<94 || ExtATRBuffer2[i+2]>130) && (iBands(symbol,0,30,2,0,PRICE_MEDIAN,MODE_UPPER,i)-iBands(symbol,0,30,2,0,PRICE_MEDIAN,MODE_LOWER,i))>400Point
&& Open[i]>=Close[i+1]
){
ObjectCreate(“Firstpulls”+IntegerToString(i), OBJ_TREND, 0, Time[i+2], High[i+2], Time[i], Low[i]);
ObjectSetInteger(0,”Firstpulls”+IntegerToString(i),OBJPROP_COLOR,clrYellow);
ObjectSet(“Firstpulls”+IntegerToString(i),OBJPROP_BACK,1);
ObjectSet(“Firstpulls”+IntegerToString(i),OBJPROP_RAY_RIGHT,false);
ObjectSet(“Firstpulls”+IntegerToString(i),OBJPROP_WIDTH,16);
}

///effort candle on the upside, return in 1
if (Low[i]High[i] && High[i+1]>High[i+2] &&
High[i+1]>iBands(symbol,0,30,2,0,PRICE_MEDIAN,MODE_UPPER,i+1)-50Point && (ExtATRBuffer[i]<94 || ExtATRBuffer2[i+1]>130) && (iBands(symbol,0,30,2,0,PRICE_MEDIAN,MODE_UPPER,i)-iBands(symbol,0,30,2,0,PRICE_MEDIAN,MODE_LOWER,i))>400Point){
ObjectCreate(“Firstpulls”+IntegerToString(i), OBJ_TREND, 0, Time[i+1], High[i+1], Time[i], Low[i]);
ObjectSetInteger(0,”Firstpulls”+IntegerToString(i),OBJPROP_COLOR,clrRed);
ObjectSet(“Firstpulls”+IntegerToString(i),OBJPROP_BACK,1);
ObjectSet(“Firstpulls”+IntegerToString(i),OBJPROP_RAY_RIGHT,false);
ObjectSet(“Firstpulls”+IntegerToString(i),OBJPROP_WIDTH,26);
}

Target: convergence of the two volatility lines, ergo the SOB would have to crack on the way down.

---

The new album is coming, just have to collect 800 more images first.

Zeberg says USD to 93 by December.

The end game is ultimate, one-sided control of volatility. The end game is a ripe condition, a structured framework for a market turn.

To get to the end-game territory, the market must cross over the SOB level first.

This level is going to let the move happen, even providing some boost to reach the E-level.

The SOB level is 47 pips relative to the 200-hour swing high/swing low.

The structure of a turn is at least 43 hours of counter-directional volatility compression where the S0/R0 serves as a cap not letting the price get down to the SOB level.

The sequence of the structure is a Shot-Over-The-Bow, a fresh Volatility Compression Divergence (new 200-sample high/low is necessary for this and is usually within 70-86 pips from the last SOB encounter), and a Break over the Bow.

A sudden, quick turn (16 hours of volatility compression before an SOB touch) has a non-lasting effect, that can send back the volatility lines for a kiss before continuing with the original direction.

So now there could be an end game lasting 20+ hours to the Break Over The Bow after making the new high first. I am hoping for a volatility boost from a drop to the E level or the S0 as momentum has choked.

The next weekly resistance level is 1.10735.

The next long cover level is 1.1082. RSI2 is enough to make a peak of some sort.

---

Achilles Dent: Lars 49 on SoundCloud

---

Achilles Dent: VV Contemplating Lyrics

Vicky Vale debating
About the parody of shame
Rebate Man choking
The Joker is joking

Theatre of Rugged Teeth
City and Guilds of Gotham 
Flipping birds
Singing princes, priceless

Turn on the spigot
Ratchet that hatchet
Hose that spot
I bet you can bat that man
Robot Margie

Like a movie 
Blown in the wind
Raking in like a Virgin
Spank for the very first crime

Halluci-nation
Up, uprise, more, more fries
Jurrasic Torah-sync
This one was for the ages

Fluster designation
47 A.K
47
License to the plate
Raising the bet
Putting it off
Onto the pedestal
Which character of yours
Was I hating?