Tien,tienbanker » Sun Oct 19, 2014 3:25 pm wrote:thanks for reply. and i wonder about the h1 picture.
I count the level almost wrong and i failed at this time. I try to read the CJ pdf and see the picture he post but not success. The green cycle in the below picture when price just stop for short time can be called the push? or the level? Where we must reset level again? for example price up again and must touch the old level or not need to touch.
After M or appear must we count again? or we still based on the level 1 (consolidation, peak lowest) to count? and must we zoom in the screen to count the level or just some days nearly? How many candle or days for start count in the each time frame?
CJ talk the level 1 and 3 MM control and trader to level 2? but how to know the level 1 is still the peak low (not lower more) or must to wait the W appear? i see the the HLH but price still down more and failed (level count wrong maybe).
The exhaustion between price and volume appear when it done. the V of price or U of volume appear when it appeared so how to predict price up or down? (high volume to short and price down, candle will /\ , volume will higher \/).
Hope some one can help me, i really want to learn and understand.
Best regard.
Tien
As I explain to you here: http://www.stevehopwoodforex.com/phpBB3 ... 30#p101974
Wave counting is only ONE way to analyse Price Action. It's the CONSEQUENCE of the logical story PA is telling you NOT the cause of its futures moves !
Let me explain to you the story I see in the part you seem to have difficulties to understand:
After making a nice upward movement (Level 1 in purple), PA broke a very strong Trend Line. As I told you, it did so by making a ABC corrective move. Then from the purple circle PA went back up to retest the Higher high of the Level 1 move (orange move).
As you can see in the green circle, PA rejected this zone, setting up a sell move (everything above the daily pivot of the 14th is in fact a steep M pattern if you want). By breaking the DP, price went down (green move).
Price was then "stuck" around the DP of the 13th (yellow circle) as in every range 2 possibilities: Price go down, break out below the purple circle, testing 1,25 OR price goes up and start a level 2, which it did quite strongly pushed by some "news", trapping bears (big white line) forcing them to buy back <= this is where you can start counting the level 2.
Conclusion: You CAN'T count wave without understanding, one way or another (If you don't like my PA story, find another that "fits" and is logical), the underlying story of the PA. Because the story creates the wave not the other way around. So the big orange circle is, sort of speak, not relevant in your wave counting.
Best regards to you all,
Fable
[ c'mon dude, break it down a bit for the 'thick' among us! 
)