DislikedMr Pip, I do have a Q and no hurry to answer, but I was wondering just where you start your first X to A...there was a post #277 by Ezzy that involves the USDCAD where he starts his X way at the top and then you posted a chart in post #349 where you started your XA at the bottom.....Im thinking, which is dangerous, that maybe you just go back to see the most significant high or low and start from there....I imagine it may also has to do with what time frame you are viewing .......I just want to get this right and want to get on this boat before...Ignored
Price action is king of the land. I mention a while back that we have to qualify our patterns. I also mentioned that it is not uncommon to see patterns within patterns and there are two potential bat patterns here. Price action and order flow favors the smaller of the two. Both patterns would have a correction point in close proximity which is nice.
I don’t just go back to the most recent high or low but it is there that you will be looking for your patterns and harmonics. I also said that in the process of identifying the main and dominant swing to look back and make sure you did not miss anything. Once you are in tune with price action the swing identification process becomes really easy. There is nothing dangerous or reckless to my approach but your analysis must begin somewhere and that somewhere should be close to current price as that is what we trade.
If you fail to plan, you plan to fail.