"Impulse Redux" is returning of wave to the original source of energy.
"Impulse Core" is the zone of maximum energy, in the Golden Pocket.
Are the sellers still there? Enough to absorb the buying power?
Reaction at Impulse is worth observing closely to gauge energy.
Rejection is expected on at least first approach if not several.
Part my ongoing series to collect examples of my Methodology:
Chapter 1: Introduction and numerous Examples
Chapter 2: Detailed Charts and Wave Analysis
Chapter 3: The Dreaded 9.618: Murderer of Moves
Chapter 4: Impulse Redux: Return to Birth place <= Current Example
Chapter 5: Golden Growth: Parabolic Expansions
Chapter 6: Give me a ping Vasili: one Ping only
every Wave is born from Impulse, like a Pebble into Water.
every Pebble bears its own Ripples, gilded of Ratio Golden.
every Ripple behaves as its forerunner, setting the Pulse.
each line Gains its Gravity .
each line Tried and Tested.
each line Poised to Reflect.
every Asset Class behaves this way.
every Time Frame displays its ripples.
every Brain Chord rings these rhythms.
He who Understands will be Humble.
He who Grasps will observe the Order.
He who Ignores will behold only Chaos.
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We had an initial rejection from the .382 bound of Core, and subsequent lower rejection Now a 3rd attempt, and this on will be key.
Getting rejected again at bottom of Impulse (like 2nd rejection) = bad news
Getting rejected again at the 382 bound of core = weak but has a chance.
Getting to the 618 bound of core = sign of strength even if rejected.
Nice defense at the 1.236:
Bulls are being persistent and trying to close the gap between support and battle zone.
Bulls have been persistently stabbing into the Core Bears have defended against a LOT of buying in this zone.
And that is because they know it is Bears' LAST stand here.
Bulls have pushed into the Core If we can get past this zone while bitcoin is still climbing, this should fly.
EXACT rejection from top bound of the Core: (what I call a Ping).
My rule about Pings:
"Not all pings start a reversal, but Most reversal start with a Ping"
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Firstly, one can expect at least a small pullback from the Core zone. It may take several attempts to get through it.
Secondly, we can not assume the result (drop or go through) but we can observe and then make a best guess.
Lets say first approach gets rejected at .382 (lower boundary) of core.
Most often there will be a second attempt - but if pullback goes beyond the 1.618, hard to come back.
But if the second attempt gets to the 0.618 (upper boundary of core), then it is a sign of strength, even if rejected from the .618.
If and when price gets through and past the Core, quite often it will come back to test the Core for support.
So my methods are not so much about predicting direction, but more about mapping very specific areas where will be watching closely, to gather clues about direction, or possible reversal.
It is the precision of the zones that offers trading benefits: clear entries, super tight stop losses, clear targets. It is up to the trader to pick a direction and pull the trigger :)