my view on the ending diagonal is that the first abc, wave 1,ended in July of 99.....and the 3rd abc, wave 3, ended in March 2000.
from your post:
""Correct me if I'm wrong, as I think you count the march top as end of 3 of the ending diagonal. And then again, do you end the 4 on 4/14 or 5/24?""
that is the $57.23 question.....was 4/14 the end of 4? I don't know the answer. If it was the end....then the 5th and final abc SERIES(it will be complex)has started up
if not, the we are completing B of 4...and C down will follow(creating a 'flat' looking 4th)
observations of ending diagonals in the past has shown to me the following: the 1st wave is often longest, the B of wave 2 returns to the "B" of wave 1(Feb 99)....wave 3 is then shorter than wave 1(confidence/momentum loss)......then wave 4 returns to the area of "B" of 3, which also laps into the top of wave 1
then 5 will be shorter than 3.....it gives you a good target
and IF IT HAPPENS, you look like a genius, if it doesn't you have a stop-out target on the upside
this is, of course, an optimum looking diagonal...which doesn't always happen....but when it fits thru the first 4 waves then you got to take a heavy shot when you approach the max allowable length for 5...yes??
B.O. Master |
