TheRumpledOne wrote:MightyOne wrote:TheRumpledOne wrote:How do you determine 1-2-3?
Joe Ross does it something like this:
1) moves away from the lowest low
2) makes a high extreme BO
3) makes a low extreme BO
4) there is a BO of the highest high to the right
of the lowest low.
These steps do not have to occur in order as in the
case of an outside bar:
The #2 point is not an entry, it is a partial take profit.
LOL.. thanks MO... I understand that... but I was asking dchappy. It was not apparent to me from the chart posted.
Hi Tro ,,I don't measure pullbacks or fib retracements or any of that .If it looks like a 123 wave to me ,,it is .If it breaks at or near the buy zone , I consider it a stronger signal and will add at the hooks ........today was another good example .