061102
If you've been following these showcase pages, you'll notice that nearly every example is about looking for times when a bunch of unrelated indciators come together at once. This showcase is no different, but this time we'll do it with using more standard tools, and leave the astrology and Gann for later. You don't need the esoteric stuff to be successful with Wave59. Below is a chart from yesterday:
In this case we're interested in what happened at the high of the day, shown in the purple circle. The first tip that there was a potential trade setup was the fact that price was bumping up against both an Action Zone level (pink) as well as a trendline drawn from the last two important highs. You can't see it, but actually that Action Zone level is right on top of another Action Zone level, so there are two of them sitting there. Action Zones are support/resistance levels known at the opening bell.
In addition to this, there was a red Exhaustion Bar, bullish momentum divergence (at the bottom), and the Fractal Trend Index was topping. The Fractal Trend Index is the red line at the top, and used to be known as "MA_Fractal" back before Wave59 came around. It is similar to the ADX indicator in that it measures trend strength. When it starts topping after a rise, you know the trend is over. This indicator peaked at the high of the day, and began declining immediately after.
Here's more confirmation:
This chart shows the mirror image foldback technique, applied with the mirror at the first peak of the day shortly after 8 Mountain Time. The price forecast itself wasn't working so well, but if you look at the turning points you'll see that they correlate very well with the market. Red lines have been added to help show these locations. By the time our top in the purple circle came around, it was pretty clear that this forecast was working. More importantly, it gave us a projected turn coinciding with the Action Zone/Trendline crossing point.
So there was massive confirmation here at this high. I saw this one in real time just watching Momentum, Exhaustion Bars, and the Action Zone. When I saw those three coming together, I looked a little more closely and found all the other stuff. So you don't have to have 20 indicators on your screen at once. Have a few trusted ones, and let them key you in to the opportunities. Then check to see how much support you've got.