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Strategies & Market Trends : Classic TA Workplace

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To: Jorj X Mckie who wrote (63510)	1/11/2003 5:21:49 PM
From: UnBelievable	Read Replies (5) of 209892

That Is Not A Valid Elliot Count As he had it designated. Wave 2 corrects Wave 1 - it doesn't extend it. The way he has B of 2 going higher than 1 just does not work. It is specifically precluded by the rule that B must be shorter than A by price. He could change it by making 1 up extend to where he has placed his B of 2, and he could then put A down where he has his C of 2 is, which would call for us to go up in B of 2 in a retrace of the A. How far up might we go? B must be less than A and in fact the most likely length of b would be 38.2% of A, followed by 50%, and then 61.8%. So under that count we could be about to begin a rally of roughly 1,200 to 3,600 points after which we would begin C down. Then we would go down again in the C wave which would finish 2. C is most likely equal to A, followed by 61.8% of A and then 1.618 of A.

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