Text book result- I could not have asked for a better example! but remember...it doesn't always happen like that but its a reliable enough entry method. Often the cycles become ever diminishing in size and often end up as a couple of bars rather than a distinct inverted 'U' or 'V' (as in this example). remember also to watch on the second cycle as you need to beware of a double bottom or what i call 'Big W' ( see small chart below-this can happen in any time frame and in any size ie the same as the 3 cycles we see above)....You should also take many other factors into consideration such as the angle and pace of prices previous decent and you can use B-bands or B-Line for the optimum entry price.
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