I find the cycle very useful for trading - you can see earlier when price busted through that resistance cycle on the 1 and 5 min time frames, that's a wave 3 of some sort, you can jump on those long. this graphic discusses how to view them - like an EW indicator basically, when price ping pongs between  the cycles you are in a consolidation wave abc's, and when you break through a cycle strongly, it's some sort of wave 3