S&P 500 IndexEducation
Imaginary levels: wave exhaustion price
Can't explain this 4 real until I explain how to properly locate levels & distinguish buying & selling waves. I KNOW I'M MESSING UP WITH ORDER OF INFO SUPPLY, SORRY.
Still...
Pretty soon you'll understand that 3393.52 and 2191.86 are the levels, and there's one buying wave between em.
Point 1 is the wave start.
Point 2 is the wave end.
When 3393.52 get cleared, another buying wave starts originating @ 3393.52 & point 2.
All the details & questions will be explained & answered later.
Now just focus on the wave exhaustion prices.
Every wave becomes exhausted in terms of price when it's range exceeds the range of the previous wave in the same direction. Not a lil bit before, exclusively past the threshold value.
So after getting past this level and considering the other conditions that would be explained later the current wave becomes prone to end and consequent start of another wave in the opposite direction.
Just as with partition levels (that are imaginary as well), these levels don't make much use any more when the real price activity start to emerge there. Imaginary levels are used when there's no alternative, but a decision has to be made.
Still...
Pretty soon you'll understand that 3393.52 and 2191.86 are the levels, and there's one buying wave between em.
Point 1 is the wave start.
Point 2 is the wave end.
When 3393.52 get cleared, another buying wave starts originating @ 3393.52 & point 2.
All the details & questions will be explained & answered later.
Now just focus on the wave exhaustion prices.
Every wave becomes exhausted in terms of price when it's range exceeds the range of the previous wave in the same direction. Not a lil bit before, exclusively past the threshold value.
So after getting past this level and considering the other conditions that would be explained later the current wave becomes prone to end and consequent start of another wave in the opposite direction.
Just as with partition levels (that are imaginary as well), these levels don't make much use any more when the real price activity start to emerge there. Imaginary levels are used when there's no alternative, but a decision has to be made.
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