The SW Phase Count risk reference: a chart line and actual price

Levels, the risk reference and 9-13-9

Support and resistance levels linked to the first sequence describe its price context. The risk reference belongs to a particular completed count; it is a separate object with its own construction and breach checks. Do not treat every visible line as the same level or as an automatically placed stop order.

Why price can continue after a 13

In this calculation a 13 appeared above price on 24 June 2024, when the bar closed at 447.67. Twelve subsequent bars later, on 11 July, the close was 454.70, above the original value. This is a specific example of why a completed count cannot automatically be treated as the start of a sustained decline.

A practical reading sequence

Start with the interval and price direction. Locate the most recent completed sequence and see how many bars have elapsed since it. Compare subsequent prices with nearby previous highs and lows. If the price risk reference is enabled, assess price against that reference under the selected preset.

Practice: check your understanding on one chart

Choose a completed count with a visible risk reference. Record the line's price and associated count, then inspect subsequent closed bars. State separately that observing the line does not create an exchange order.

What the completed observation should contain

A risk reference helps review price against a particular count and does not place a stop order.

Primary sources

Sources explain the mechanics and limitations; the editorial examples use invented numbers rather than market quotations.

• The SW Phase Count risk reference: a chart line and actual price

Sources checked: 2026-10-23

Continue with this topic

• SW Phase Count: a first reading of 9, 13, Setup and Countdown