Hello all and good morning to everyone.
Just wanted to show what this pattern looks like without all the noise involved with the day to day movements. Using wicks or candle bodies as points of contact can throw off the general idea of whats happening and mislead us to the outcome.
For instance using the wicks would have mad you believe a fall below this line would result in a major move to the downside, or that the pattern was failing
Using the candle bodies is actually a much better method as you can see here
The overal shape and idea of the pattern is what is most important. And that is, a relatively flat top with higher lows put in on a 5 point wave count.
Just wanted to show what this pattern looks like without all the noise involved with the day to day movements. Using wicks or candle bodies as points of contact can throw off the general idea of whats happening and mislead us to the outcome.
For instance using the wicks would have mad you believe a fall below this line would result in a major move to the downside, or that the pattern was failing
Using the candle bodies is actually a much better method as you can see here
The overal shape and idea of the pattern is what is most important. And that is, a relatively flat top with higher lows put in on a 5 point wave count.