Chronology.

This was where the market went outside the white line on the downside. This equates to 5x stretch from the mean (414 EMA H&L on the 30 min, aka the Green River).

You can see that there was a clear thrust that ended up making a 9.3x stretch, which is very high by historic standards.

They kept on attacking it and managed to push it below the white line on 6-7 occasions at least.

There was a move to the other extreme next, but price stopped dead at the 5x white band.

The counter move on the downside made 3 distinct attempts at the 3x mark (purple band), but could not muster it.

Next was 2.5 stretch on the upside and move less than 2x on the downside.

At this point you must see that you are dealing with a pendulum here.

Here we are currently:

Volatility started expanding – to the upside first. There was a 5.9x print already and some divergence, but we have not seen what was to happen if price is going to slide below the 5x mark again.

I think if this move is a Wave 3, it may have already peaked. A Wave 4 should get closer than the lowest point of the Wave 3, which was coming off the Upper Guard Rail (1x stretch). We should see a mean reversion next, maybe even an undercut to the Lower Guard rail before a Wave 5 up. This new Wave 5 should stop at the 5x white or a bit before.

The gap up over the weekend really threw me off. I was keep on trying to rape the chart into a Wave 5 up, but since the current structure seems to have ended in a temporary weakness at a No Break Extension, and there is nothing looking like a Thrust, I must acknowledge the possibility that this is not s C leg, but a Wave 3.

Lastly – sorry for the zoom, but since the week opened, the market “stayed outside” of both 109-pips markers, and this is typical of a channeling market. It is always the very chart that you currently aren’t looking at that seems to hold the key.

I expect a move back to the low .99xx region to find new footing.

Been married long time ago, where did you come from?

The “A” leg made its projections.

The “C” leg’s job was to grow into these shoes.

Ain’t you are thankful for me Projected Distance 240 routine?!

It’s like somehow a steak was lifted

Brain Calms Down.

What does Elliott Wave say about Wave 3? That it cannot be the weakest of the 3? It is time to choose a different profession, dear.

Wave 5 started from beyond the E-32 (Yellow), the Thrust of Wave 5 started from the E8O (Magenta).

Let’s evaluate the encounter with God.

It was the 3rd kind, the non-typical one that blew through and is due to do at least Kiss Good bye on day 3.

The last time around they managed to stretch the band 5.5 folds on the upside before it produced that 9.3x stretch on the downside.

So what’s the plan here? Shorting back to God, then wait. No shorting above God after a Kiss Goodbye, but by all means all out shorting upon the break of the Kiss Goodbye Low.

KGB: lay all your kisses on me.

Capitulation may be the correct verdict.

…

This is looking like a Wave 3

Waves are sort of becoming my field.

I have found some of the answers more than once, so my exercise is coming up with reminders for myslef.

A W4 can make its own support / resistance. Once returning within the volatility bracket, out of 3 fractals the furthest open / close would become this level.

int ucounter=0;
int dcounter=0;
double llevel;
double ulevel;


llevel=1000;
i=21;
while (i<100)
{
   if (High[i]<iBands(symbol,0,30,2,0,PRICE_MEDIAN,MODE_UPPER,i)+50*Point && High[i+1]>iBands(symbol,0,30,2,0,PRICE_MEDIAN,MODE_UPPER,i+1)+50*Point) break;
   i++;
}
if (i<100){
 j=i;
 while(j>0){
   if (iFractals(symbol,0,MODE_LOWER,j)) {dcounter++; if (Close[j]<llevel) llevel=Close[j];}
   if (dcounter>2) break;
  j--;
 }
} 
if (j>0){
   ObjectDelete( "Gent");
   ObjectCreate( "Gent", OBJ_HLINE, 0,  Time[0], llevel);
               ObjectSet("Gent", OBJPROP_COLOR, clrCyan );
               ObjectSet("Gent", OBJPROP_WIDTH, 3 );
               ObjectSet("Gent", OBJPROP_RAY_RIGHT, false );
               ObjectSet("Gent", OBJPROP_STYLE, 1 );
               
               deletetxt1("CLine");
               ObjectCreate("CLine"+IntegerToString(j), OBJ_TEXT, 0, Time[j], llevel-20*Point);
                 ObjectSetText("CLine"+IntegerToString(j), " BUY: "+DoubleToStr(NormalizeDouble(llevel,4),4), 14, "Impact", White);   
   ObjectSet("CLine"+IntegerToString(j),OBJPROP_BACK,0); 
       ObjectCreate("CLineL"+IntegerToString(j), OBJ_TEXT, 0, Time[j], llevel-20*Point); 
   ObjectSetText("CLineL"+IntegerToString(j), "BUY: "+DoubleToStr(NormalizeDouble(llevel,4),4), 14, "Impact", Purple);   
   ObjectSet("CLineL"+IntegerToString(j),OBJPROP_BACK,0);  
               
}

What is one of the rules of Elliott Wave? That a Wave 1 and a Wave 4 cannot overlap? Lunacy.

This is still a Wave 4 until the Overdrive band gets popped on the downside approving the down move as a Wave1 down.

A bit of New Wave is in order here

…

Ira is cute. He has his bugs and incositencies such as keep calling the 200-week average 4.5 years long and keep saying that Euro is making up 40% of the DXY when it is more like 54%) and therefore very lovable.

I don’t know what it was. A flash rally. They come out of nowhere, and that one did.

It’s gotta be algorithm trades, I can’t think of anything else.

50 years of charting and running a brokerage apparently does not come naturally with wave counting.

There is a bit of difference between Trust and a Thrust. I can’t think of anything else.

Thrusts come out of nowhere at the end of a Wave 5, just beyond the Beat of Wave 3, just outside the 4-hour, 30-sample HL2 BB.

Man, these Elliott Wave guys are so full of shit!

I was wrong for looking for an ABC correction on the way up. I corrected myself and learned a lot of things, such as traits of certain Waves. I now have a better concept of what a wave 1 does and what are the best continuation entries.

To save face after posting videos and charts this Spelliot is showing an ABC for wave 1, 2 and 3, then this guy goes on and adds another ABC for leg five and just turns the first ABC move into 4 legs – say what?

What were you thinking deciding to make the lie live on and beget ever fatter, hoping that no one notices? You thought that I was just gonna say, your sexy is secret with me, safe?

Did you say that this correction was rather strong?! No shit, Sherlock! 5 waves impulse structure in excess of 325 pips is a complete change of trending direction.

Now you are looking for a Wave 2 up and an undercut of the low? A 9.3x stretch from the mean to the downside was good enough for the year. Would they thank you for keeping them out of trading and losing to you instead? Gradually, of course, how else would you peel a cat?

I, unlike you am basing wave structures on tangible things, such as overdrive bands, moving averages and RSI2 divergences. For instance a Wave 4 is a shot over the bow signaling that the next break would be a turn for real, it sets up a continuation divergence / gets further out on the MA ribbon, effectively losing ground, but I bet you did not know that.

This is a continuation divergence between the Wave 2 and the Wave 4 lows. The low of Wave 4 is not necessarily the end of Wave 4. How are you doing?

You probably didn’t know that a no break extension can extend a wave for a bit longer either.

32/6*8=42.7 pips

You just like to write “QWERTYUIOP” on every chart for some reason (admittedly looks very scientific) and charge every human being you can scam into $79 per month for it – and you can pay $149 if you are double the loser.

What is an exhaustion? A beat? A thrust? Overdrive bands? Separation? Channeling? No break extension? Fluctuation maximum?

Exactly.

Stay out of the line of my sight and stop taking other people’s money, Dr. Doxey, what you are doing is criminal! I despise low lives like you.

R1 calculation

 i2=1;
   while (i2<500){
      i=i2+3;
      if (iFractals(Symbol(),0,MODE_UPPER,i2))     
      while (i<i2+16 ){
            if ( RSI2[i2]>RSI2[i] && iFractals(Symbol(),0,MODE_UPPER,i) && High[i2]<=High[i]-10*Point ) break;
         i++;}
      if (iFractals(Symbol(),0,MODE_UPPER,i)  && iFractals(Symbol(),0,MODE_UPPER,i2) && RSI2[i2]>RSI2[i] && High[i2]<=High[i]-10*Point) break;
               i2++;}  

  ObjectCreate("Ellipse3_1ffx",OBJ_TEXT, 0, Time[i2-3], High[i2]+450*Point);
            ObjectSetText("Ellipse3_1ffx", " R1:"+DoubleToStr(NormalizeDouble(High[i2]+420*Point,4),4), 17, "Impact", clrWhite);
             ObjectCreate("Ellipse3_1ffy",OBJ_TEXT, 0, Time[i2-3], High[i2]+450*Point);
            ObjectSetText("Ellipse3_1ffy", "R1:"+DoubleToStr(NormalizeDouble(High[i2]+420*Point,4),4), 17, "Impact", clrBlue);

Admittedly, I have explored every single edge in trading and made them parts of an indicator on an EA.

What was really missing until now was the wave structure nuances.

Look at what knowledge the Holy Graph has decrypted for safe keeping below.

The great rows of fire.

Concentrate on the middle row. Green means the last 3 closes were above the Suppressor line (E16 HL2).

Admittedly, FX volatility had to get back to the level it used to be at to see constant channeling and impulse waves galore.

I had these lines below for targeting for many years. Almost never used them, and they just gave way for the 8-EMO targeting under the label of CODE 8. The question is the timing. Curious.

/////Long Target - Code 8 Overdrive

if( OrderType()==OP_BUY && OrderStopLoss()==.8 && OrderTakeProfit()!=NormalizeDouble(odu,4) && OrderOpenPrice()<NormalizeDouble(odu,4)-20*Point
 ) 
       { OrderModify(OrderTicket(), OrderOpenPrice(), OrderStopLoss(), NormalizeDouble(odu,4), OrderExpiration());
          Print("LONG Target Set to Overdrive @ "+DoubleToStr(NormalizeDouble(odu,4),4));}

/////Short Target  - Code 8 Overdrive

if( OrderType()==OP_SELL && OrderStopLoss()==8 && OrderTakeProfit()!=NormalizeDouble(odd,4) && OrderOpenPrice()>NormalizeDouble(odd,4)+20*Point
 ) 
     {  OrderModify(OrderTicket(), OrderOpenPrice(), OrderStopLoss(), NormalizeDouble(odd,4), OrderExpiration());
           Print("SHORT Target Set to Overdrive @ "+DoubleToStr(NormalizeDouble(odd,4),4));  }    

What was 8 about the overdrive bands? The idea of infinity and beyond turned on its side.

So my feeling for this weekend, is the everlasting dilemma.

    if (iRSI(NULL,15,8,PRICE_MEDIAN,i)>85 && Close[i]>CloseLine[i]-.0005  && ChoppinessIndex(13*4,i)<35)  {ObjectCreate("txt 3"+i, OBJ_TEXT, 0, Time[i], High[i]+.001);
                   ObjectSetText("txt 3"+i, "PEAK!!!", 12, "Tahoma", Black);}   
        if (iRSI(NULL,15,8,PRICE_MEDIAN,i)>80 && Close[i]>CloseLine[i]-.0005 && ChoppinessIndex(12*3,i)<37)  {ObjectCreate("txt 3"+i, OBJ_TEXT, 0, Time[i], High[i]+.001);
                   ObjectSetText("txt 3"+i, "PEAK!!!", 12, "Tahoma", Black);}       

Channeling

High[i]>Close[i+1]+20*Point 
&& High[i-6]<E16[i-6]-50*Point 
&& High[i-5]<E16[i-5]-50*Point 
&& High[i-4]<E16[i-4]-50*Point 
&& High[i-3]<E16[i-3]-130*Point 
&& High[i-2]<E16[i-2]-130*Point 
&& High[i-1]<E16[i-1]-100*Point 
&& High[i]<E16[i]-80*Point
&& Close[i+6]>E16[i+6]-250*Point 
&& Close[i+7]>E16[i+7]-250*Point 
&& Close[i+8]>E16[i+8]-250*Point 
&& Close[i+9]>E16[i+9]-250*Point && Close[i+10]>E16[i+10]-180*Point && Close[i+11]>E16[i+11]-100*Point 
   && Close[i+12]>E16[i+12] && Close[i+13]>E16[i+13]-100*Point && Close[i+14]>E16[i+14]-100*Point 
&& !chdn[i+1]
){
      chdn[i]=true;
           ObjectCreate("Coal"+DoubleToStr(i-1), OBJ_TEXT, 0, Time[i-1], iHigh(symbol,0,iHighest(symbol,0,MODE_HIGH,2,i-1))+60*Point); 
          ObjectSetText("Coal"+DoubleToStr(i-1), " "+CharToStr(240), 36, "Wingdings", Blue); 
          ObjectCreate("Coals"+DoubleToStr(i), OBJ_TEXT, 0, Time[i-4], High[i-1]+30*Point); 
          ObjectSetText("Coals"+DoubleToStr(i), "                                         CHANNELING "+DoubleToString(NormalizeDouble(iHigh(symbol,0,iHighest(symbol,0,MODE_HIGH,2,i-1))-10*Point,4),4), 16, "Impact", Black); 
          

Oh Harold, I am such a Faltermeyer!

I have all of this down:

Programs
Wave 1 – Channel Target
Wave 2 – Ma +22 Target
Wave 3 – 1st Fractal – Re-Visit Target
Wave 4 – Beyond E32 & Channel Target (2 full moves outside the RSI BB)
Wave 5 – Thrust target

Yet I was not able to say that the Wave3 hasn’t ended yet, why?

When I did not know any better, so earlier today I was looking for a second leg up of a Wave 4. I wanted to trade in the crossed out fractals for a Beat. If you go back and look at all my thrust finder plots, there isn’t a single one that does not require the fractal to spike outside the 30 sample BB.

So, let’s play a quiz now.

The nonfarm payrolls is due to come out today. The market just printed the second crossed out B fractal. You know that this is a Wave 3 down and you are still missing the Beat. You watch as they let the volatility bracket make its way leaving room for a spike in excess of 80 pips with 15-16 on the outside making for a great trap.

Does it matter what number the news would bring when the market is set up to make this trap-round-trip? Do you really think that there could had been any different outcomes other than finishing the Wave 3?

All beats & thrusts have to prove max volatility effort by going outside the BB30

I was looking for the it’s braining, man song and found this instead.

YouTube is a goldmine. This reminded me when my daughter was 3 years old and was singing, “Nationwide is on your side”. No it didn’t.

YouTube is beyond your control.

A Wave 3 does not end until the beat appears. Same exact location as the previous fractal is not good enough.

First, two incredible target projections for two different Wave ones.

It is important to throw in some values here and there when you are spending half of your time with suicidal thoughts.

Now, let’s move on with the liturgia. I am a moving averages guy. Who would say something like that in this day and age? Total retro stuff.

I have the means to figure the end point & get a fill for a Wave 1.

What can I do about a Wave 2?

I can plot an 11 & a 17-sample HL2 EMAs and perhaps a 52 on the 4-hour and notice that price often makes a false move away from this band to the tune of up to 25 pips and these points tend to be the best entries and these entries tend to coincide with Wave 2 terminal points.

Typically, there would be a spike into the Overdrive bands made by a Wave 1 into the new direction.

This however is the idea behind placing the bulk of the volume 22-pips out.

if (iMA(Symbol(),0,11,0,MODE_EMA, PRICE_MEDIAN,0)>iMA(Symbol(),0,17,0,MODE_EMA, PRICE_MEDIAN,0)){ 
  ObjectCreate("KLOPF1", OBJ_TEXT, 0, Time[0], iMA(Symbol(),0,11,0,MODE_EMA, PRICE_MEDIAN,0)+265*Point);  
   ObjectSetText("KLOPF1", "                                    "+DoubleToStr(NormalizeDouble(iMA(Symbol(),0,11,0,MODE_EMA, PRICE_MEDIAN,0)+220*Point,4),4)+" MA SELL", 12, "Arial Black", Black);
    ObjectCreate("KLOPF2", OBJ_TEXT, 0, Time[0], iMA(Symbol(),0,17,0,MODE_EMA, PRICE_MEDIAN,0)-200*Point);  
   ObjectSetText("KLOPF2", "                                    "+DoubleToStr(NormalizeDouble(iMA(Symbol(),0,17,0,MODE_EMA, PRICE_MEDIAN,0)-220*Point,4),4)+" MA BUY", 12, "Arial Black", Black);
}
else {
ObjectCreate("KLOPF1", OBJ_TEXT, 0, Time[0], iMA(Symbol(),0,17,0,MODE_EMA, PRICE_MEDIAN,0)+265*Point);  
   ObjectSetText("KLOPF1", "                                    "+DoubleToStr(NormalizeDouble(iMA(Symbol(),0,17,0,MODE_EMA, PRICE_MEDIAN,0)+220*Point,4),4)+" MA SELL", 12, "Arial Black", Black);
    ObjectCreate("KLOPF2", OBJ_TEXT, 0, Time[0], iMA(Symbol(),0,11,0,MODE_EMA, PRICE_MEDIAN,0)-200*Point);  
   ObjectSetText("KLOPF2", "                                    "+DoubleToStr(NormalizeDouble(iMA(Symbol(),0,11,0,MODE_EMA, PRICE_MEDIAN,0)-220*Point,4),4)+" MA BUY", 12, "Arial Black", Black);
}

Overdrive bands calculation

E32L[i]=iMA(NULL,0,8,0,MODE_EMA, 1,i);
   
ODU[i]=E32L[i]+FMax*23.5*Point;
ODD[i]=E32L[i]-FMax*22.5*Point;

where FMax is 6/5 FSize and the FSize is 32

double FMax = FSize*6/5;

…from myself. Or at least, I shouldn’t.

A cornerstone of my trading has always been targeting – besides understanding the wave structure of course.

ObjectCreate("ENVELOPE"+6,OBJ_LABEL,0, 0,0);
  ObjectSet("ENVELOPE"+6,OBJPROP_CORNER,3);
    ObjectSet("ENVELOPE"+6,OBJPROP_XDISTANCE,0);
  ObjectSet("ENVELOPE"+6,OBJPROP_YDISTANCE,10);
  ObjectSet("ENVELOPE"+6,OBJPROP_COLOR,clrWhite); 
  if (Close[0]>iMA(symbol,0,8,0,MODE_EMA, PRICE_OPEN,0))
  ObjectSetText("ENVELOPE"+6,"W5 exit: "+DoubleToStr(NormalizeDouble(iMA(symbol,0,8,0,MODE_EMA, PRICE_OPEN,0)+640*Point,4),4),9,"Arial Black"); 

The downside is more of a mix of conditions, not a displacement.

So this so called “C” was suspiciously impulse looking with that EBT structure.

Wave 4 ended in a 4-hour continuation divergence. Everything stayed over the 120EMA (in Blue). Think of the first low as the stochastic bracket’s low, and the re-visit as buying the oversold.

     if (i>0 && High[i]<iMA(NULL,0,8,0,MODE_EMA, PRICE_OPEN,i)+30*Point) ) && RSI[i+3]>RSI[i+1] && RSI[i]<RSI[i+2] && RSI[i]<RSI[i+1] && RSI[i]<RSI[i-1] && RSI[i]>lower[i]-2 && ((RSI[i]<main[i]+2 && High[i]>iMA(NULL,0,8,0,MODE_EMA, PRICE_OPEN,i)-50*Point) ||  (RSI[i]<main[i]+1 && High[i]>iMA(NULL,0,8,0,MODE_EMA, PRICE_OPEN,i)-110*Point) ||  (RSI[i]<main[i] && High[i]<iMA(NULL,0,8,0,MODE_EMA, PRICE_OPEN,i)-140*Point)) 
     && (RSI[i]<30 || RSI[i]<lower[i] ) && Low[i]<iBands(symbol,0,30,2,0,PRICE_MEDIAN,MODE_LOWER,i)) 
     ||
     (RSI[i]>lower2[i] && RSI[i+1]<lower2[i+1]))
     && Low[i]<iBands(symbol,0,216,2.5,0,PRICE_MEDIAN,MODE_MAIN,i)
     && Low[i]>Low[i+1]+30*Point
     
     && ((RSI[i+2]<lower2[i+2] && iStochastic(symbol,0,60,3,3,MODE_SMA,0,MODE_MAIN,i)>10) || iStochastic(symbol,0,60,3,3,MODE_SMA,0,MODE_MAIN,i+1)>35)
     // && Low[i]>iBands(symbol,0,30,2,0,PRICE_MEDIAN,MODE_LOWER,i)
      
      ){
      ObjectCreate(0,"TLine_1"+i,OBJ_TREND,indicator_window,Time[i],RSI[i],Time[i],0);
      ObjectSetInteger(0,"TLine_1"+i,OBJPROP_RAY_RIGHT,false);
      ObjectSet("TLine_1"+i,OBJPROP_COLOR,Chartreuse);
      ObjectSet("TLine_1"+i,OBJPROP_WIDTH, 7); 
      ObjectSet("TLine_1"+i,OBJPROP_BACK, 1); 
      
         ////Buy Stop Hedge
             ObjectCreate("TLineyy"+DoubleToStr(i), OBJ_TEXT, indicator_window, Time[i], RSI[i]-9); 
             ObjectSetText("TLineyy"+DoubleToStr(i), "BUY HEDGE @ "+DoubleToStr(NormalizeDouble(iLow(symbol,0,iLowest(symbol,0,MODE_LOW,5,i))-200*Point,4),4), 13, "Impact", Crimson); 
      

You and I had a good thing with those hedge levels and what not. We should start to build some thrust, now at 49 years into this life.

(Putting down the skizo-phone)

///////////Upside Thrust
////18-76 pips beat beyond the BB, close back inside 2 hours later, 64 pips above the 8EMO
 if (Close[i]<iBands(symbol,0,30,2,0,PRICE_MEDIAN,MODE_UPPER,i) && High[i+2]>iBands(symbol,0,30,2,0,PRICE_MEDIAN,MODE_UPPER,i+2)+180*Point && High[i+2]<iBands(symbol,0,30,2,0,PRICE_MEDIAN,MODE_UPPER,i+2)+760*Point && High[i+2]>iHigh(symbol,0,iHighest(symbol,0,MODE_HIGH,120,i+3)) 
 //&& (iBands(symbol,0,30,2,0,PRICE_MEDIAN,MODE_UPPER,i+14)-iBands(symbol,0,30,2,0,PRICE_MEDIAN,MODE_UPPER,i+2))<200*Point
 && High[i+2]>iMA(symbol,0,8,0,MODE_EMA, PRICE_OPEN,i+2)+640*Point
 ){

I never thought of this, but I guess, it is true. If a Wave makes an Effect (violating the Overdrive bands) it must be an impulse wave.

Plus, if an Elliott Blaine Guru calls the move up an ABC, you should certainly second guess yourself.