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Strategies & Market Trends : Classic TA Workplace

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To: AllansAlias who wrote (62667)	1/4/2003 1:27:39 PM
From: At_The_Ask	Read Replies (1) of 209892

As to our discussion of neely's method. Apparently one of the "neowave" rules is that to be an impulse one wave must be an extension....Not sure if I buy that one. It seems to be a common sense that: If it's impulsive, then "One of the 3 trending segments MUST be much longer (in price) than the others." In Neely's book it sets the qualification as "At least 1.618 of the 2nd longest wave"....However, I found many impulsions don't meet this rule (suppose I am not counting them all wrong), some are not even 1.382 of the 2nd longest segment.....How reliable is this rule? and how you experienced friends handle this rule? (consider w-2 & 4 alternates)

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