Good morning Mr. Pip,
I've been lurking this thread for a few weeks now, practicing from the structure analysis. I've watched your videos a couple times each, and I want to say thank you in advance for the work you've put it. I'm trading a micro account ($0.10/pip) for practice, but already I'm seeing improvement (up $9 this week LOL). I was hoping you could clarify something on the structure analysis for me because I'm afraid if I don't have the expectation correct, the rest of the analysis begins to break down.
I have a few questions for you or the more experienced members.
1) When a retracement in line with the expectation happens after a failed initiative move, does the new retracement high or low set the expectation limit? This is the first question moving left to right on the chart. We see a failed NSL leg (point A), then a retrace to a lower high (point B) than the previous lower high (labeled LH). Is point B now the location to determine expectation failure once the completed NSL confirms it or do we use the previous LH (labeled LH)?
2) Moving right, the next question deals with expectation failure. Upon expectation failure, will there always be a NSL leg into a NSH leg or vice versa to set the expectation limit? Or after the NSH, is the previous retracement (point C) the new level to determine expectation failure?
3) Is the initiative leg required to be an approximate harmonic height of previous legs? For example, is the break above the previous NSH (point D) considered a NSH? If so, I assume the failure of expectations would occur at point E?
Thank you in advance for the help.
Gabe
PS, sorry if the image didn't show. This is my first post on FF.
I've been lurking this thread for a few weeks now, practicing from the structure analysis. I've watched your videos a couple times each, and I want to say thank you in advance for the work you've put it. I'm trading a micro account ($0.10/pip) for practice, but already I'm seeing improvement (up $9 this week LOL). I was hoping you could clarify something on the structure analysis for me because I'm afraid if I don't have the expectation correct, the rest of the analysis begins to break down.
I have a few questions for you or the more experienced members.
1) When a retracement in line with the expectation happens after a failed initiative move, does the new retracement high or low set the expectation limit? This is the first question moving left to right on the chart. We see a failed NSL leg (point A), then a retrace to a lower high (point B) than the previous lower high (labeled LH). Is point B now the location to determine expectation failure once the completed NSL confirms it or do we use the previous LH (labeled LH)?
2) Moving right, the next question deals with expectation failure. Upon expectation failure, will there always be a NSL leg into a NSH leg or vice versa to set the expectation limit? Or after the NSH, is the previous retracement (point C) the new level to determine expectation failure?
3) Is the initiative leg required to be an approximate harmonic height of previous legs? For example, is the break above the previous NSH (point D) considered a NSH? If so, I assume the failure of expectations would occur at point E?
Thank you in advance for the help.
Gabe
PS, sorry if the image didn't show. This is my first post on FF.
