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Strategies & Market Trends : Sharck Soup
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To: Rambi who wrote (14471)4/3/2001 1:24:14 PM
From: velociraptor_  Read Replies (1) of 37746
 
In this series of clear down waves, they usually unfold in 5 waves....1 down, 2 up (corrective), 3 down, 4 up (corrective), and then 5 down. If you look at a 5 day hourly chart, you can see that we have completed 3 of those waves from the highs yesterday and are now in a wave 4...so yes...one more down, and we get a larger corrective pattern before we start the next series down.
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