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Strategies & Market Trends : Classic TA Workplace

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To: AllansAlias who wrote (9861)	8/12/2001 8:13:02 PM
From: Bull RidaH	Read Replies (2) of 209892

<<Why not just change your yellow '1' to a white 5? (That's my bearish count.)>> Your scenario is one I've labored over for a couple weeks as a valid alternative, but it has one minor flaw which kept it from being my #1 read. Your scenario has 3 ending at the 6/15 lows, then a of 4 into the 7/2 high, b of 4 into the 7/24 low, then the c of 4 rally into the 8/2 high, completing an expanded flat wave 4 corrective. The flaw in the read is that in flats, wave b can be no more than 2X the price length of wave a. Wave a spanned from 1203.03 to 1240.24, or 37.21 pts. That means from wave b's 1239.78 start, it to could go no lower than 74.41 pts, or down to 1165.82. Wave b under this scenario traveled down to 1165.54, reducing this read's probability of working in my mind. But it's awfully close, and still a good read. What does your bull read look like?

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