Skip to main content
Track Median line
13 / 19
Search the archiveLibrary
Library

2014issue C1120-24

Measured-move and daily pivot price-projection construction

A measured-move copies the height of a completed swing onto a later swing. Daily pivot support and resistance then give a second test, but only if every chart uses the same session-reset.

  • A measured-move is constructed by projecting a later swing to approximately the same height as a prior completed swing.
  • If the first completed 1-2-3 sequence is relatively small, the next measured-move target may be built from that full sequence height. If a later impulse is already large enough, the next target is copied from that impulse height.
  • A correction label can remain valid when price turns down after roughly a 50 percent retracement but still reaches the same level as the prior correction.
  • Daily pivot support and resistance must be reset from one agreed session close, commonly Coordinated Universal Time zero hours, so traders do not each compute different levels from local clocks.
Entries in this reading3 entries
Current trackMedian line19 readingsPivot point45 readingsSupport and resistance170 readings

What a measured-move copies

A measured-move is a price-target construction that copies the height of a completed swing onto the start of a later swing.

A measured-move is constructed by projecting that later swing to approximately the same height as the prior completed swing.

First evidence of a possible trend change

After a downswing, an upswing followed by a higher-bottom pullback is treated as the first evidence that trend direction may be changing.

The first logical target for a new impulse swing is at least the height of the preceding correction, because a higher high than the prior high is the working hypothesis.

Which completed height to copy

A wave-count is a labeled sequence of impulse and pullback swings used to decide which completed height to copy next.

If the first completed 1-2-3 sequence is relatively small, the next measured-move target may be built from the full height of that sequence rather than from only the last impulse.

If a later impulse is already large enough, the next target is copied from that impulse height rather than from the entire preceding 1-2-3 sequence.

A later impulse can be projected from the prior impulse height, allowing about a 10 percent tolerance around that copied height.

When a correction label can stay valid

When price turns down after roughly a 50 percent retracement of the last correction but still reaches the same level as that prior correction, the correction label can remain valid.

When a trend-change construction is confirmed

A trend-change construction is confirmed only after a moderately higher top is followed by a correction that is no longer valid, at which point the new downswing is measured and projected as the next impulse.

Daily pivot bands and a shared session-reset

A pivot-point is a session-level midpoint computed from a prior day's high, low, and close and used as a reference band for later price. The median-line is the central daily pivot level that sits between the first support and first resistance bands.

Support-resistance means price zones where a prior extreme or projected level is treated as a place the market may stall, reverse, or break.

Daily pivot support and resistance must be reset from one agreed session close, commonly Coordinated Universal Time zero hours, so traders do not each compute different levels from local clocks. That session-reset is the rule that daily support and resistance bands restart from a single agreed session close rather than each trader's local clock.

A 30-minute EURUSD example

On a 30-minute EURUSD example dated 25 to 26 September 2013, price interacted in sequence with the median pivot, prior-day low, prior-day high, second resistance, then later failed the median pivot and fell toward first support.

Educational research material, not investment advice. Historical source context does not establish present-day performance.
13 of 19 in the Median line track
201427-27 pp.Next on Median lineConstructing median-line channels from a pivotBuild the channel from one extreme high or low, a median line that bisects the next corrective phase, and parallels through that phase's high and low.
All readings on this track · 19 readings
  1. 1985Constructing median lines from graded pivots
  2. 1986Constructing median and action-reaction lines from pivots
  3. 1989Median line construction from three market turns
  4. 1990A failed median-line test marks the start of wave three
  5. 1995Constructing three-pivot median-line channels
  6. 1996Median-line pitchfork construction for trend and reversal tests
  7. 2000Nested median-line channels as falsifiable swing tests
  8. 2002Median-line versus speed-resistance on one trend
  9. 2003Independent witnesses: a median-line miss, a breadth average, and volume bands
  10. 2012Constructing oblique trendlines and median-line channels
  11. 2013Gold futures wave four, competing complexes, and written ratio tests
  12. 2013The weekly 1-2-3 map as a permission layer
  13. 2014Measured-move and daily pivot price-projection construction
  14. 2014Constructing median-line channels from a pivot
  15. 2016Median-line far parallel as a precommitted exit
  16. 2017How high is high: Elliott wave landmarks
  17. 2017A three-layer veto for a suspected third-wave high
  18. 2020Basic chart rules for Nasdaq trend reversals
  19. 2020Stacking wave counts, retracements, and median lines
By fieldTrend and channels181 readingsBy year201489 readings
All 19 readings tagged Median line
Also on Median line5 readings
1985Constructing median lines from graded pivots2000Nested median-line channels as falsifiable swing tests2002Median-line versus speed-resistance on one trend2012Constructing oblique trendlines and median-line channels1986Constructing median and action-reaction lines from pivots