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Strategies & Market Trends : Classic TA Workplace

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To: Shack who started this subject	4/28/2001 4:03:29 PM
From: velociraptor_	Read Replies (1) of 209892

one other note...In the previous scenarios outlined, regardless of the preferred scenario, the one thing in common is that this 5-3-5-3-5 wave structure is nearing an end. It is obvious that wave 3 was the extended wave. This precludes waves 1 and 3 to be of either similar degree or have a 0.618 relationship. Since, this appears to be a diagonal formation in process, and wave 5 tends to be the weakest, the most likely outcome is for wave 5 to be 0.618 time the length of wave 1 which was 854 points. This gives us 527 points. Add this on the the recent low near 10,375 and you get a target of about 10,900.

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