What determines this? I was under the impression that EW had already determined where the price goes. I guess the question is how does one trade this? we seem to be trading between 103 and 105. Do you trade in the direction of the next breakout?
Well the determinism is where this is ultimately headed in this cycle...how we get there and the timing can vary. The way I trade this is leg in at the previous low (c) we just had a month ago, and again at the lows of the next (c) if we get a double. If it takes off from here then you are already atleast partially in position....this is why I prefer doubles because it allows me to get in full position.