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Strategies & Market Trends : Classic TA Workplace
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To: Galirayo who wrote (122120)7/19/2005 6:27:16 PM
From: skinowski  Read Replies (2) of 209892
 
The fall into the recent low was impulsive -- very likely the C of an expanded Flat, which would be bullish. That's the assumption I would go with. At this time, I'd wait for a completed impulse, and buy the retracement.

If we are lucky enough to get a clean big impulse up - to complete the present move - that would also largely eliminate the possibility that the down impulse was the first one of a new decline.

This is a good example of a situation when EW may be very helpful. The chart is the same as yours, but stretched out a little vertically.

stockcharts.com[p,a]gaclyyay[d20][pb50!b200][vc60][iub14!la12,26,9][J55205563,Y]&listNum=1
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