Cycles and Phases System| Mt.BFX
This is mostly a system in testing.
After each Phase Cycle , sideways consolidation occurs at the top of the parabola, as long as it holds the lower Phase Cycle boundary and doesn't violate by going lower, price will tend to break higher.
Each orderblock within the Phase Cycle creates a phase, beginning with 1 at the bottom and 4 at the top. The reason for this is future price action will look for these levels to break in order to break higher. They become future support/resistance level.
After each Phase Cycle , sideways consolidation occurs at the top of the parabola, as long as it holds the lower Phase Cycle boundary and doesn't violate by going lower, price will tend to break higher.
Each orderblock within the Phase Cycle creates a phase, beginning with 1 at the bottom and 4 at the top. The reason for this is future price action will look for these levels to break in order to break higher. They become future support/resistance level.
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