Geometry: Ellipses on an Adjusted Axis

Hey! Hope you are doing well!
In both charts the native resolution is five minutes.

In this example, the ellipse is precisely derived from the angulation of the move.

In this example, the ellipse is derived through various harmonics.

Enjoy! And be well!

Suggested Reading:
Law of Vibration - Tony Plummer

Michael Jenkins - Geometry of Stock Market Profits, Chart Reading for Professional Traders, Complete Stock Market Forecasting Course

Scott M. Carney - The Harmonic Trader, Harmonic Trading Volume I, Harmonic Trading Volume II, Harmonic Trading Volume III

H.M. Gartley - Profits in the Stock Market

Bill Wiliams - Trading Chaos, New Trading Dimensions, Trading Chaos 2nd Edition

J.M. Hurst - The Profit Magic of Stock Transaction Timing, Cyclic Analysis: A Dynamic Approach

Fabio Dreste - Quantum Trading

Michael Jardine - New Frontiers in Fibonacci Trading

The Wave Principle, Nature's Law
Ralph Nelson Elliot

Technical Analysis of the Financial Markets
John J. Murphy

A Complete Guide to Volume Price Analysis
Anna Coulling

Mastering The Elliot Wave
Glenn Neely