The beauty of the Investor/RT Pro with MP is that I simply drag a box around the candles I want profiled and voila! This lets you create profiles on individual waves. Similar to Fibonacci retracements we can now see where a trend is likely to carry us to. But unlike Fib's we see true value at work. TRUE support and resistance.
FWIW the fib tool in Investor/RT is awesome and I myself use fibs heavily because I feel floor traders and in general many traders/investors use them.
Here's a daily view. This makes the profiles more granular and we can see there was a different POC for volume and MP, unlike on the weekly timeframe. There are pros and cons of smaller timeframes. The weekly has less noise but you can't see as deep into the profiles. It's VERY important to take a holistic approach so you can gauge what the various timeframe traders/investors are thinking and what accepted price levels they are likely to look at supporting or selling into. No one timeframe will give you context...be sure to choose your charts according to your trading style.
As you can see, I use channels and trendlines in my analysis. This helps me further visualize the markets "structure". More on that later I'm sure.
