The flip side of silver: ZSL

One could model ZSL as having put in  5 waves up.  Of course, it could turn out to be an extended 5th wave so there is no perfect comfort to be  taken from this chart for M+M longs who do not exercise the discipline of using stops and then only re-entering when there is a valid model entry point reason to do so.  Failure to do this accounts for 90% of the trading mistakes that I have done in the past or seen others do.