Scooter is the 4H 216 sample HL2 BB with 2.5 std deviations.
Did price catch up with it?
At 1.0637 it did.
Do I like the divergece of the wave 5 of Wave 5 of WAVE 5?
I like it fine.
Is a 3x stretch from the mean a good starting point for a reversion?
Perfetto.
The new beams? Along the lines of the volatility breach reversal, it is a similar filter trying to tackle a reversal condition. Still about the brief action outside, the close back in and a clean RSI2 peak printed.
Since the Magic Box was busted, I don’t quite know what this means. There would be a move to the upper guard rail (approx 175 pips from the low), like I have been saying. It is unclear at the moment if this move would continue afterwards.
There was a Push scare on the 14-sample weekly Window Envelope.
The resistance levels are on the image (R1-R3). We may have seen the running flat correction. Price is closing back above the S3.
I did not miss the turn-around box, which is holding still despite the millionth charge. Price managed to catch up with the shadow of an earlier 200-sample displaced by 100 pips.
The beavior is a bit unfamiliar, especially that the last two boxes, which were both printed on the upside were like heavily coated with repellant and price was running away from them like there was no tomorrow.
This one on the other hand is like a tourist attraction, it is getting explored extensiely.
This is like a neverending Wave 5.
Of course, the end is near, but I don’t like the hourly RSI2 pusing the floor. There is no divergence yet.
Scooter is at 1.0641.
Wave 5 of Wave 5 of Wave 5 still missing.
You know I mean?
Who’s that gigolo on the street With his hands in his pockets and his crocodile feet Hanging off the curb, looking all disturbed At the boys from home, they all came running They were making noise, manhandling toys That’s the girls on the block with the nasty girls Wearing padded bras sucking beers through straws Dropping down their drawers, where did you get yours?
Gigolo, huh, sukka? Gigolo, gigolo, huh, sukka?
Who’s looking good today? Who’s looking good in every way? No style rookie You better watch don’t mess with me
No money man could win my love It’s sweetness that I’m thinking of We always hang in a Buffalo Stance We do the dive every time we dance I’ll give you love baby not romance I’ll make a move nothing left to chance So don’t you get fresh with me
Get funky Yeah Timmy Tell it like it is Check out this DJ
So you say you wanted money but you know it’s never funny When your shows worn through and there’s a rumble in your tummy But you had to have style get a gold tooth smile Put a girl on the corner so you can make a pile Committed a crime and went inside It was coming your way but you had to survive When you lost your babe, you lost the race Now you’re looking at me to take her place
Who’s looking good today? Who’s looking good in every way? No style rookie You better watch don’t mess with me
Smokin’. Not cokin’. Get funky sax. Looking good, hanging with the wild bunch. Looking good in a Buffalo Stance. Looking good when it comes to the crunch Looking good’s a state of mind State of mind don’t look behind you State of mind or you’ll be dead State of mind may I remind you Bomb the Bass… rock this place! What is he like? What’s he like anyway? Yo’ man what do you expect the guy’s a gigolo man You know I mean?
No moneyman can win my love It’s sweetness that I’m thinking of. We always hang in a Buffalo Stance We do the dive every time we dance I’ll give you love baby not romance I’ll make a move nothing left to chance So don’t you get fresh with me
No moneyman can win my love It’s sweetness that I’m thinking of. We always hang in a Buffalo Stance We do the dive every time we dance I’ll give you love baby not romance I’ll make a move nothing left to chance So don’t you get fresh with me
Wind on my face, sound in my ears Water from my eyes, and you on my mind As I sink, diving down deep… deeper into your soul. No moneyman can win my love It’s sweetness that I’m thinking of. We always hang in a Buffalo Stance We do the dive every time we dance I’ll give you love baby not romance I’ll make a move nothing left to chance So don’t you get fresh with me
There was a Loneliness channeling correction (Blue).
After 15 hours of selling there was a price of new spin. I need to include this with the label. If the 1st or the 2nd leg is 15 hours long, another sequence is coming. 5 is highlighted – it made a support.
As you can see, there is still room left in the magic box, but as for continuation after a correction to at least the Upper Guard Rail, it is now guaranteed (1.0680 was the halfway mark).
The 9 hours is referreing to exceeding the 14× 4 hours initial projected birth date. Also this suits the context, since I started talking about incubation time earlier.
Karma Comedian
More childhood darling jokes?
– Why is it good for a pregnant woman?
– Because she won’t be hit in the face by a swinging door.
I had a Math & Physics teacher, we went on a school trip. I kept on telling jokes. At some point he told me to to tell him a short joke, then a long one. He calculated eith the average that I recited about 863 jokes during the previous hours.
…
From support to resistance. Highly unpredictable move was that.
Channeling is the act of preventing the price from returning to the daily 9 EMA.
As you can see, the channel being referred to is the Valley of the the Green River.
The arrows show the utilization of the Lower Guard Rail.
The Guard Rails are about 7/5x fluctuation size away from the Green River Band. (On Eur/USD this means 44.8 pips displacement of say the 207 EMA of LOWS and Highs on the example above – this is why the width changes a bit).
A soft reset is price making a discharge on the daily E-9.
A correction takes price back from having been outside the valley to the other end of a valley (Guard Rail).
A deep correction takes price back from having been outside the valley to the other end of a valley plus about 2 fluctuations (Guard Rail +- 60 odd pips).
An extra deep correction takes price back from having been outside the valley to the other end of a valley plus about 4+ fluctuations (Guard Rail +- 120 odd pips).
A channeling correction is the best entry of the established trend and there are two different kinds.
The Loneliness correction entry does not make it to the other end of the 30-sample hourly BB even at the end of the C leg. The entries are 1/2 size at the 12th hourly close and 1/2 size at the 16th hourly close.
The Disregard correction entry would cross outside the 30-sample hourly BB even at the end of the C leg. It would last at least 23 hours (to maybe 40) and the RSI2 gets taken to an extreme (87.5+ / 12.5-) by all terminals of the ABC legs.
ChannelingTargets are: a lower low, 10 hours of buying / selling beyond the 8-hour EMO, a volatility breach reversal but a minimum a higher high / lower low.
A Magic Box is plotted on the 4H chart. There are two variations of it. One is an RSI2 sequence beyond a 200-sample higher high / lower low and its starting point is the high / low of the last extreme candle, the other is an outside the channel (Valley) Money Flow peak / troff in a desired range printing during an RSI2 extreme and is using the closing price for one end of the box. The box itself is 2x fulctuation size (64 pips).
A magic box, as further discussed in the previous blog entry may hold predictive clues based on price running away / penetrating by 1/3 or 1/2+ which would mean disctinctly different behavior. Also, when price isn’t running away immediately, there is a 56-hour incubation time limit (12x 4 hours).
If price would not manage get through the halfway mark of the box within the next 8 hours (+1 count) the downside would be forfeited for good. If it does, after the Correction there would be a continuation lower.
It is easy to forget that you are on the 4H chart, which does not yield precision signals.
The magic box is the reminder for this uncertainty. This however comes with something extra.
Point.
The penetration into the box yields info on the future progression.
You are looking at the boxes in chronological order.
A 50% plus penetration into the 64-pip box means continuation after correction.
The Upper Guard rail is a regular correction. The Deep Correction is 60 pips out, the extra deep is 120+ pips out.
At the bottom the magic socks only slipped 1/3 way into the box. This meant no more continuation.
Again, these are ALL the boxes that plotted.
There were 2 on the way up.
Pay attention to the upper limit of the box. After the Humvee series (End Of Move down) the backtest NEVER went beyond that level.
I think we’re about to get an important piece of info here on if we have more downside to come. A push below 1.0679 would mean continuation after correction. A failure to go beyond 1/3rd would mean NO MORE DOWNSIDE.
Today I’ve got two turntables and a microphone for you.
Little tidbits of canes.
When the market was making an impulsive move up, the daily RSI2 showed the exact end of the Wave 2 and the Wave 4 with Magenta prints.
That’s basically an RSI2 HL2 reading lower than 5.3
The end of the impulse wave was marked up on the weekly by catching up with the Chase line, which is 135 pips displacement from the last push (hand – can talk to it).
There is another displacement that can yield some results here.
Introducing the bumper line. 200 sample higher high on the 4H with 20 sample delay.
if (High[i+20]>iHigh(symbol,0,iHighest(symbol,0,MODE_HIGH,100,i+21))) upperbumper[i]=High[i+20]+1000*Point;
Interestingly there was no money flow divergence, but a 130 sample highest print.
This bumper line would had come in handy at calling the topping as well.
After a 90-sample highest MFI plus a bump, there was a Money Flow divergence with price printing two fake outs to the tune of 18.5 pips at most. This is how the B wave fizzled out. Bump+Money flow divergence.
There had to be 2 4-hour rejections printing at the E-52 HL2 to confirm the flip.
The A Wave was marked up clearly by the CounterRejoyce indicators long red strips.
But Nick Rhodes could had also helped with its black print and divergence guidance B(1.0519)
Based on what we know now, there had to be 3 attempts for a bottoming and an MFI divergence.
It does make sense to plot the Valley of the Green river with the 52 EMA HL2 being displaced by 1 fluctuation maximum in each direction.
Notice that the 3 attempts were overlapping ovals. So I guess, the 3rd re-entry into the Valley could be an earlier confirmation to use (after the 3 hoops of course). Notice the 20+ hours spacing as well.
So what the heck is going on currently?
With the two daily pro volume candles, they gave this starting leg the beans to the downside. They broke a CAP then they broke a Black RSI2 print.
The stochastic got pushed to its absolute limit, at least in this much the A and the a of C are similar.
There was a 160 and a 230 bounce over there. I believe that there would be a Music Factory at the end, but the b of C has to print first, even if this would make the cyan dollar longers sweat.
My current base case for the Eur/USD is a move down to the red line (Expanding Wedge).
The blue line originated from the other Expanding Wedge that kicked off the bear market and had that gap outside, trying to push back in capital failure.
That said, we are at support and the market separator E-59 is also right here.
A mean reversion was held back again at the Lower Guard rail (in Coral), but the sell off ensued resulted in a slight beat and only 4 hours of consecutive selling versus the previous theme of 10 hours or 9+9 hours.
The 18-sample stochastic reading got pushed back below 3% twice. These numbers don’t really ever sustain.
The mean reversion would have to take price back beyond the E-9 by an extra 40 pips. We are talking 1.0820-1.0830.
From there the third leg could start, but before that some sideways movement would have to relieve the daily oversold conditions.
I think a 50+ stochastic reading (and an overbought RSI2) would be ideal to kick off the travel for the remainder of the distance.
Things would probably happen rather slowly: the B leg up would take a week and a half perhaps (5-7 days) and the C leg down could take as much as as 4-5 weeks. The B leg ultimately could tag the interrupted line at 1.0910.
By the way, the mentioned ABC stucture down what makes up the larger C leg.
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