1. Number 2 wave is a top. 2. Number 3 wave is the bottom of a first decline. 3. Number 1 wave is the bottom prior to wave 2 (top). Point 3 must be lower than point 1. 4. Number 4 wave is the top of wave 3. The wave 4 point should be higher than the wave 1 bottom. 5. A trend line is drawn from point 1 to point 3. The extension of this line projects to the anticipated reversal point which we will call wave 5. this is the entry point for a ride to the epa line (1 to 4). 6. The Estimated Price at Arrival (EPA) is the trend line drawn from points 1 to 4. This projects the anticipated price objective. Our initial stop is placed just beneath the newly formed reversal at point 5. It can then be quickly moved to breakeven.
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