Hello Techanalyst,
Welcome to our block and thank you for your question.
Deriving a POC from the monthly chart is a small challenge, as you'll soon see.
Your POC 1 should be a bit lower, in the 4 H chart that would be better to see, unfortunately I have not downloaded the data from me, so I can not accurately identify the POC. The POC 2 would not be correct for me. I would have identified the range of POC 3 differently here.
If I only had this chart image available, that would look like this.
The POC 1 would be smaller, the POC 2 is not quite as strong, and the POC 3
should be noted. The POC 4 is difficult to identify, as is the POC 5 because the unit of time is too large. The POC 6 is again an important line.
At the end of the POC line 2, a balance has been re-established, so that the POC could be extended into the future.
I do not want to claim to always be right. Often, a POC can also be derived by multiple equilibrium.
I recommend using the Momentum Indicator to work in smaller time units, which is clearer and easier. A regular workout is crucial, you'll make it.
best regards
Forget:That does not work, amateurs build the ark, pros the Titanic!
1