This Chart is a an example of a "Golden" Fib series. This Concept is from "Chapter 5" of my going "book". This Religion about the universality of the "Golden Ratio".
Marked on chart are "Pings", ricochets that one can almost HEAR. "Not all Pings start a reversal, but Most reversals start with a Ping." Top had a "Loud" ping, with possible bottom of several loud pings.
Every Ping is like a bug hitting a spider's Web. The vibration alerts and emboldens other strands. Thus we observe the behavior at each strand for clues.
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My "Book" detailing my Methodology with Numerous Examples: Chapter 1: Chapter 2: Chapter 3: Chapter 4: Chapter 5: Chapter 6: