Where to?

There’s a delicate balance between readily leaving an idea that doesn’t work and hastily escaping one that hasn’t been exhausted. Have I said that before?

I finally decided to really see the results of the work I’ve been putting in. I drew in my beloved waves manually on a chart and separated them out. If I had an indicator to read my mind and put lines on a chart, here’s the result:

Capture

 

The first thing that’s glaring wrong (in my opinion, and I’ve known this fore quite some time now) is all the gapping that’s appearing in the chart. This is simply because my waves as they stand only care about expansion. The gap areas are all retracement. I could simply attach the last line from the extreme to the 20:00 ‘open’ but is this right? Does this leave something out? I think so. I think the problem it creates is that I now technically have waves that don’t exist. They’re not defined by A/B/C/D/etc, because each successive letter denotes a new high/low. So I need to either redo the waves, or incorporate a second layer, a retracement layer. I feel the first is cleaner I feel.

However as wrong as this model may feel, it does do something correct: It’s always captures the high/low of the day, and those are the most important points at the moment.

 

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3 thoughts on “Where to?

  1. KA

    Maybe I have missed some of your posts but what is the logic of your wave mapping ?
    One thing I note is that the way you separated the waves with those red vertical lines makes impulsive waves very cyclic…

    Reply
      1. KA

        Yes the definition you used to draw the lines.
        Wave Analysis is what I am going to work on for the next weeks 🙂

        I did not receive any mail from you, I emailed you my skypeID, maybe you could edit your comment to remove your email now..

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