Simple MOB Clarification

[Philby]

Can someone refresh my memory on where the appropriate place to click to set up a mob when looking to pick the height/target for the current wave 3.

Refering to the attached chart, is it the previous pivot ie: B or do I ignore the a,b,c and go right back to the wave 5 peak in the previous wave.

Old age is creeping up here I think.

[MR]

Hi Philby,

Technically, there is no clear, easy to identify Type 1 or 2 setups at an A-B-C MOB. Hence, no clear trade opportunities from that pivot. However, I still like applying those MOB's to help me guage the real underlying strength in that stock, commodity or index. Partly because an aggressive, experienced AGET trader like myself might be able to take that kind of information, adapt, potentially change that chart to a lower time frame and still find a quicker trade using that kind of a mob. It is kind of hard to teach that type of trading, so we tend not to talk about it. The chart you are showing is a good example where I could see you trading the bands and you need a way of figuring out is this resistance strong enough to push the price down to your lower band. You might be able to go to a shorter time frame if you had the real-time AGET chart access and identify some sort of a Type 1 that way and get a quick trade out of it. Or just seeing that MOB might help-- seeing how the price acts as it trades there could add insight into your next trading setup later. Yes, that lower MOB is not a key MOB, just a potential trading MOB off a stronger pivot point. Hope this helps.

Best wishes, Marc

[Philby]

Marcus

Thanks for the comments - I think I need to refine my entry with reference to some of the other indicators as well.

Cheers