When I see Many traders here trying to Complicate the trading by simply applying some thing which has no logical explanation i feel sorry for them believing that something has not worked in past and will work in future , Stock market is very simple and very Much repeated by itself , from 1900 to till date it has repeated itself , but dont expect to make same pattern there will be variations , but they give a visual representation of how they are moving , this one is you can understand when you follow the trend line , ( Trend line are insignificant , they only represent what i wanted to look ) so try to be in the larger trend direction , dont hang up with some system which has not worked in the past for very successful way , i have even tried to place the Fibonacci level so that what i am looking and where i am looking for termination of this wave
The idea is trade with the confirmation and trade with pre-defined risk and measures , even many time my understanding fail but that does not negate of making forecast in fact that add more insight to my forecast
Hope You Guys will understand the concept
Good Luck