The MOB

[mattgundersen]

Steve,

If you are trading with the wave counts and want to see where the w5 will extend, then use the mob off of wave 3.

Do you need the MOB for that? When a W5 is growing, there are typically a few -5- labels that denote where the W5 price projection is.

m.

[mattgundersen]

Does anyone have an answer?

[ACM]

Well actually I did answer on this thread before you moved your question to the new thread.

BTW have you done something to the forum that now allows to view images online?

Alex

[gspiker]

I'll take a swag at it. Remember, I haven't used GET for that long, and there may be better uses.

In this case lets talk about an upwave.

The MOB (make or break) shows both a time and price projection of where a major resistance is in the wave 5 progression. Typically this is slightly above the wave 3 high (looks like it might be some fib ratio - but I haven't verified), but lower than either of the wave 5 projections.

If the wave 5 breaks the MOB, it should add confedence in the wave projection values. On the other hand if you see the PTI drop below 35 as you approach the mob, it might be a very good idea to take profits and look for a 2x top.

If you see the market retreating from the MOB even with a fairly good PTI, you might lighten positions, and look for a logical stop out point.

But the MOB and wave 5 projections are clearly not the same beast.

[ACM]

Re: Reply to post 'The MOB'

If I can add to what Garth has just said.

The MOB represents the price/time level where resistance or support should
be found IF and WHEN the corresponding high/low from which the MOB is
projected is taken out.
Those levels may or may not coincide with a wave 5 projection and are not necessarily
limited to that specific circumstance. You can use MOBs very succesfully in
ABC in determining where the C may end after the high/low of a B is taken
out. Also in this case it may or may not coincide with the traditional C=A
projection of wave C.

Alex

[mattgundersen]

thank you, thank you.

And yes, we did change something with images today. When you use the [img] tag it will show the image inline rather than an url reference. It was driving me crazy. Especially after Dion posted a quick tutorial on the Formula Wizard in the EFS Reference Guide forum. Now all his images show up inline with his commentary.

Much nicer. Especially when we're posting charts as we discuss AGET

m.