I wonder what the definition of turning point is.
I understood that turning point is actual high or low, but you don't know in advance what should it be.
Actual high was definitely April.
If May is turning point, I would conclude that May would be low.
However, if we continue lower into June, May will not be actual low.
Any clarification?
We have already shown how turning points are inaccurate, and so they should be ignored. However, according to Armstrong, they are supposed to be highs or lows on closing or intraday basis. So the actual turning point can be the highest close when the actual high is not on that turning point.
10 day performance of perfect setups here.
https://i.imgur.com/sgYEtyZ.png you can see that it caught the low early today too. Red and green lines are always changing according to how fresh a level is, as I do the analysis each day, but only as far as the color; all price levels are there to stay. For example, see how the Dow high yesterday was a double top, and not fresh- but! the /ES high made a higher high almost right on the dot of the fresh red short line. Therefore giving extra validity to the short.
