Ask DrBob Message Board - Msg: 23767921

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Strategies & Market Trends : Ask DrBob

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To: SHAWING who wrote (95720)	8/6/2007 5:49:04 PM
From: frigengenius	of 100058

I am still on vacation shawing, but if I get time I will post a chart. To get a feel of the abc retrace...just use fibs from the august lows to the recent highs in July. A commom theme for a wave 2 retrace...being wave ii...wave 2 or wave 2 circle (they are all the same, just different magnitude)....is for a deep retracement. This means the 0.382 should at least be reached. Most often they are much deeper....0.5....0.618. This is because noone wants to let go of the recent trend and noone wants to believe it is over....therefore the deep retracement.

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