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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures

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To: Bull RidaH who wrote (26463)	6/29/1999 9:29:00 AM
From: Chip McVickar	Read Replies (2) of 44573

<<chuckle-smile>> Hello David, No....I was concerned you might start making up your own rules<<VBG>> <<chuckle>> I'm looking for a positive market from the 15th June through end of August and then the markets unwind into the late fall ending with a serious international monetary crisis and currency implosion. May might not be the high......but we are getting close. I look for a high in August. BTW...What is your read? Have you read: "Fibonacci Applications and Strategies for Traders" Unveiling the Secret of the Logarithmic Spiral by Robert Fischer Wiley Fascinating study of ewaves and Fibs/Golden numbers... He did a series of back testing programs using computers with technical guru's from Omega research to discover the accuracy of ewaves. Then he applied his own work with Fibs and the Golden numbers to ewaves and retested. The results were significant. He also developed the Logarithmic Spiral for trading. Summary: "We consider it impossible to predict or forecast the beginning or end of a 5-wave pattern. But there are very good chances to profit by waiting until a 5-wave pattern has developed."....They agreed with Eliot on the 5 upward and 3 downward pattern as having measurement and forecasting value....."But the problem and risk in this strategy is of an extension in the fifth wave..." He goes on with a long discussion of the application of Fibs/Golden numbers and working with extensions. Finally a look at the Logarithmic Spiral and it's applications for traders...I'm not an ewaver, but this book holds very interesting adaptations to Elliots work using modern tools.

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