It may be little rich for those of us who are not familiar with defining 3 or even more time frames on any given chart. I must also say that it is simple once it is clearly understood.
Why bother ? You will see it on the chart by focusing on two 2nd or medium term support breaks labelled as “what happened when these support levels broke”. Study the price action behaviour thereafter.
Each 3rd time frame waves (motive or corrective) are marked with Blue or Red. Blue representing motive and Red representing corrective waves. I have also taken a Fib retracement for prior two as well as the anticipated current wave.
If time permits, I will try and do a webinar and try and examine those past reference zones and compare them with current price action behaviour to determine what what may occur at present.
To be continued….
Chart is courtesy of tradingview.com
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