Nested wave rhythms and double-bottom support

Keep the outer wave and the inner rhythms apart

Wave counting starts as a nesting problem. A larger-degree uptrend wave can contain several smaller completed rhythms inside the same price range.

Those inner rhythms are completed structures in their own right. They sit inside the outer swing instead of replacing it, so the larger wave remains the range that later support is taken from.

Measure support on the scale you boxed

Colored range boxes were used to keep larger and smaller rhythms distinct so support prices could be measured separately at each scale.

Support and resistance is then read from the boxed range that belongs to the degree being measured. Mixing the outer wave with an inner rhythm on the same unmarked scale is what the boxes are there to prevent.

A weekly retest at derived support

On the illustrated weekly sequence, subtracting 45.71 from a peak of 134.54 produced a derived support price of 88.97.

The same weekly sequence came near that 88.97 support price twice and then advanced, with the second approach forming a double-bottom. That second visit is the Double top and bottom event in the construction.

A breakout through the prior week's high was presented as confirmation after the second approach to support.

The same order from hourly to weekly

The construction is described as usable from hourly through daily to weekly charts, covering day, swing, and position horizons. Wave counting, support and resistance, and double top and bottom stay in the same order at each horizon: box the outer range, measure support on that range, then treat the second approach as a pattern that can confirm or fail.