comments:  was really telling that we had both end of bull cycles on both the daily and 120 min charts at the highs.  

anyway the thing about the cycle indicator is that price either respects it or not.  Most of the time price will reverse off the cycles. However when price blows through them that doesn't mean they failed, in fact that's very useful information, it means you have a breakdown or breakout condition. 

For example on this example, you can see on the 120 min chart you had an end of cycle at the highs, then you had a buy cycle show up (cyan dots) after a small pullback and price didn't try to bounce there it just fell right through it like a hot knife through butter. That told you that you had an impulse move down.  when prices respect the cycles you have a consolidation wave (b, 2, 4 etc).  After you bust an cycle support down hard, the next bounce when you get a sell cycle it's always a good short.  The same works on the reverse, if you bust hard though a cycle resistance it means you have an impulse wave higher in elliot wave terms, so you buy the next cycle pullback. 

you are basically using the cycle indicator sort of like an elliot wave type indicator in a way