The characteristics of Wave 3 is that is almost always involves high volume candles. When you see big bull or big bear candles in a given direction, you can pretty well bet that's a Wave 3 movement somewhere in the count.
That's a key part of the spike and ledge setup. Once you see the video, you'll understand how that ties in with the Wave 3 TDI rules list.
Here's a smaller one that happened earlier Qui. I was actually in this trade but I waited too late to enter and I was expecting more downside. But the overall trend was up so it only made it to the FE 61.8 as expected.
Minor Wave 4 count peak coincides with the entry level at the 71.6 retrace. Notice the really big red bear candle that popped up on the first move down earlier. That's a Wave 3 move.
The characteristics of Wave 3 is that is almost always involves high volume candles. When you see big bull or big bear candles in a given direction, you can pretty well bet that's a Wave 3 movement somewhere in the count.
That's a key part of the spike and ledge setup. Once you see the video, you'll understand how that ties in with the Wave 3 TDI rules list.
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