Keeping focused on the bigger picture can be a little testing when matters are apparently so slow, but I keep moving in and out of time frames until I can find a storyboard that makes sense to me. This 2hr chart just about keeps all the relevant facts on one page: the MMA wave is comprised of the 80day trend and its 100% extension at 160day and then again at 320day. This MMA wave is currently in a bearish formation, but has been under attack from a bullish 80 day trend since the 1.3476 low, with price sat on top of that wave at present. However, if you tease that MMA wave apart into its derivative parts (so, 20,40,80,160,320 day trends) and then shift each one forward by half of their length (I use half or double of everything to create a sequence ladder), you get a maze of future decision points for price to work through. Troughs and Peaks and the lines themselves are viewed as possible zones to attract price, depending on whether larger cycles are working with or against the trend in question. So, for example, this bullish 80day trend, is making it hard work for the price to move down towards the 20 or 40day FLDs, illustrated by prices stickiness to the 80day & 160day FLDs. However, as I say, the 160x320day trend is still down and if the 160day FLD can get 'cut' to the downside, not only will the 20day and 40day FLDs get hit in quick succession, but where the hell is that 320day FLD?
I have been posting my EW count on the 48 pip range bar study because it strips out time and leaves tighter looking patterns (for good or for bad!). The 320day FLD from the first chart, is spot on with my count as it would be, because the Hurst model came first. We humans do love a good story, but will mine get a chance to shine?
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