Bear, I just started studying this indicator last week. Let me put a twist on it and tell me what you think. I'm looking at the GBP/JPY. We just got a long signal on the 15m and 1H charts. We've had an UP on the daily since 219.32. We've had DOWN's on the weekly and monthly since 251.09. I conclude that this up should be contained under 241.36 (4H in DOWN), then we should get a reversal below 231.06 (4H to finish off the DOWN) , but contained above 219.32 (long signal on daily), the we'll get a move UP over 241.36 (daily to finish off UP), but under 251.09 (DOWN's for the weekly and monthly). At that point, we get a massive drop under 219.32 (weekly and monthly to finish off the DOWN's.
Just an observation. I'd like your input. Thanks!
BTW, I'd add the charts, but that would require 6 of them. I thought it would take up too much room.