Follow the posts to see how this is done, but one factor is this.
In wave principle every turn ends in an 1-2-3-4-5- pattern. Wave C ends in an 12345 pattern. Wave five ends, most of the time in an 12345 pattern. I have seen markets go along showing no pattern. Then all of a sudden, start a very visible 12345 pattern before turning.
Here is my secret on those and it comes from Robert Miners book. If one draws a line from the beginning of wave one and end of wave two. Wave four will come back to that line. So now one knows exactly where the last wave is at.
I have also watched this phenomenon often and the market thereby finishes on this support line or the wave 1-2- of the next wave will form just above the line. So the market will end on the line before breakout.
Either case getting in the market at trend line is very close to the top, too.
The exception to this is wave ABC. One can identify where it will end by finding the fractal created on the data going up in a bull market. Finding this fractal is a little subjective. Draw a line from there to end of wave A and wave C will end on that line. Watch in the posts and see how this is done.
These two lines are of utmost importance to understanding the lines or channels these lines are made from exact points. They are essential to all of my trading.
Yes, one can have data in so small a time frame this method does not work.
I use so many trades to a bar for data.
The reason for that is each bar then represents so many emotions of traders. Which is based on the same principle as Wave principles. It also filters slow trade times by taking time out of equation and using the number of trades executed. Making a smoother chart patterns.
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