bioscript..I cant thank you enough for these posts....will have to do a lot of study on them and obviously have a lot to learn about EW theory...I also see you guys zoom out a considerable distance on a chart like that.Do you typically analyze the 4 hr charts?Its my understanding that daily is more typical but EW action is occurring across all time frames.Also..do you typically set upper/lower trendlines as shown and fully trust them or do use use other confirmation to guard against breakouts of channel? Am posting a chart thats also a 4 hr A/U but with a unique twist I have been fooling with on ultra short time frame trading using the 1 min...I think you know that EMA(400) can be really good S/R on excessive moves so I got to thinking and decided to try a double Quad Tunnel ..I am experimenting with using basic Quad and a second Quad Tunnel with EMAs of 242,288,338 and 392....the 392 coincides with EMA(400)....on your chart it shows a C for bottom trendline reversal...on my chart it shows it would have confirmed that by finding solid support on the lower tunnel EMA(196)...it made a classic move from below dbl tunnel that had diverged enough to be a weak spot...then moved up strong with textbook retrace to test support and exploded up from there.This is looking very promising especially on scalping the one min Heikin Ashi charts....on your chart this phenomina is seen as C being start of reversal... 1(one) being peak of that move and 2(two) support and breakout from EMA(392) Got a lot of careful study to do this weekend thanx to your posts....just wanted to share this with you as well..
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