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$165July 3, 2013
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Hi Theo,
Going through the free course again to make sure i haven't missed any vital information. On the #2 vid you explain the patterns you watch for, "The trend continuation wave pattern" is that just a 3 point turn on a bigger scale? Thanks for your time Ted
$8001983February 26, 2011
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Hi Ted,
The 3 point turn is the first confirmed wave to start the move and a trend continuation wave would basically be a 5 point turn if you were to think of it that way. Cheers, Theo
$165July 3, 2013
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Hi again Theo,
I have a question on the continuation pattern; Â On the 4th leg of the pattern the pullback back towards the 2 leg is it still a valid signal if the 4th leg passes the bottom of the 2 leg?
Sorry it might be easier to show what i am talking about with a chart will post shortly.
$165July 3, 2013
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So lets say it doesn't make it lower than the #2, am i then looking for another pattern on the 1hr chart for conformation or would a PB on the 4hr be sufficient? Again, thank you for your knowledge and time. Ted
$8001983February 26, 2011
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In this case Ted I would prefer not to pass the 2nd leg Low because that would lower the proof I have available to me about the structure of that Longer Term Wave you have mapped out. However, in this case look at the speed it left the next box down when it was create. It is a powerful looking area and so I will be trading that one also if my entry triggers set up.
A simple H4 PB out of this next box or the next one down will still be a counter-trend trade for me and treated as a Shorter Term Wave. The proper level of proof to turn this longer term wave scale that you have mapped out on your screenshot must come from an H1 pattern as you say. That would give me the confidence to treat the longer term wave as a longer term wave.
Theo
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