bulf6285- regarding your questions about the cycle indicator
what determines end of bull or bear cycle. First off realize that
it's right at times and other times it's early and sometimes you
get 2 or even 3 end of bull or bear cycles before the trend is
finally turning. Basically what's happening, let's say price
is uptrending, the key is price strongly breaking through a
resistance cycle, which signals a trending move like a wave 3. Then
on the next pullback if price doesn't overlap and fall back through
resistance cycle and you get a pullback and a support cycle it will
label that pullback as bullish pullback and the next rally where a
resistance cycle forms it will label it end of bear cycle. The key
is price breaking through a support cycle for the down side or a
resistance cycle to the upside that signals some sort of wave 3,
and the next pullback as long as it doesn't overlap the last cycle
it will label it bullish or bearish pullback, then the next rally
will be labeled end of bull cycle, and if in a downtrend would
label it as end of bear cycle.
I don't have time to find idealized examples but see the
following chart, notice how price busted hard through that
resistance cycle- on the next pullback as long as it did not fall
all the way back to that resistance cycle where price broke out
from, it would label the pullback as bullish pullback once a
support cycle shows up, then on the next rally once a resistance
cycle shows up it would label it end of bull cycle (it's trying to
guess that it's a 5th wave. That said if price just strongly breaks
through that resistance cycle then the wave count is extending and
it starts over again
Matt -- On the cycle
Posted by bulf6285 on 5th of Oct 2023 at 09:19 am
Matt -- On the cycle indicator, sometimes there are labels such as "End Bear Cycle" or "Bearish Rally". What determines those labels?
bulf6285- regarding your questions about
Posted by matt on 5th of Oct 2023 at 11:01 am
bulf6285- regarding your questions about the cycle indicator what determines end of bull or bear cycle. First off realize that it's right at times and other times it's early and sometimes you get 2 or even 3 end of bull or bear cycles before the trend is finally turning. Basically what's happening, let's say price is uptrending, the key is price strongly breaking through a resistance cycle, which signals a trending move like a wave 3. Then on the next pullback if price doesn't overlap and fall back through resistance cycle and you get a pullback and a support cycle it will label that pullback as bullish pullback and the next rally where a resistance cycle forms it will label it end of bear cycle. The key is price breaking through a support cycle for the down side or a resistance cycle to the upside that signals some sort of wave 3, and the next pullback as long as it doesn't overlap the last cycle it will label it bullish or bearish pullback, then the next rally will be labeled end of bull cycle, and if in a downtrend would label it as end of bear cycle.
https://breakpointtrades.com/blog/post/412143/
I don't have time to find idealized examples but see the following chart, notice how price busted hard through that resistance cycle- on the next pullback as long as it did not fall all the way back to that resistance cycle where price broke out from, it would label the pullback as bullish pullback once a support cycle shows up, then on the next rally once a resistance cycle shows up it would label it end of bull cycle (it's trying to guess that it's a 5th wave. That said if price just strongly breaks through that resistance cycle then the wave count is extending and it starts over again
Very helpful!! THanks!
Posted by bulf6285 on 5th of Oct 2023 at 02:39 pm
Very helpful!! THanks!
Very helpful!! THanks!
Posted by bulf6285 on 5th of Oct 2023 at 02:39 pm
Very helpful!! THanks!