Hahahaha dis reminds me when i was struggling to understand mr foxblazej » Tue Aug 25, 2015 11:28 am wrote:Hi caveywoolpert,
CJ words from pdf provided by nkosi1.
You won't always get "M" and "W"'s on all stages on a move. The best place for them is at the 3rd level. You will get RRT and "pins" which you can use as clues to possible price reversals. You need to watch for stop hunts and don't trade the Asian range....wait for price to move 25-50 pips above or below Asian for a set-up. A 3 push, 50 pip move out of Asian isn't something you want to trade....it's a set-up that draws in breakout traders, you want to watch for price reversals after these "false moves" happen.
There are multiple 3 level rise or drops....On the weekly cycle, there is a 3 day cycle that corresponds to 3 days of rise or fall... reversal may come after the 3rd level....when it does, the 3rd level becomes the 1st level in the new 3 day cycle... You will find more quality "M" and "W" patterns on this 3rd level if it is the reversal level...straight away trades tends to occur from this level as well if they already have adequate volume trapped there already.
Price spikes down once to the low, but fails to form the "W"...price spikes once high but fails to form the "M"....this is after the Asian session when the range has been set.....NO STOP HUNT Failed "W" - straight away up.....failed "M" - straight away down. Sometimes they will blow the range box out to cover this....and what looks like a stop hunt but it not .The FOX is sly and deception is his nature.
