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Strategies & Market Trends : Why the markets will continue higher...
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To: Cage Rattler who wrote (239)12/24/1997 10:26:00 AM
From: GROUND ZERO™  Read Replies (1) of 745
 
Ted,

You need to be consistent. If you use the August highs, then the biggest low is the October low. Bisect that entire wave from the April lows. As you can see, the market never reached that center line. You can draw a lower parallel line off the October low and that might provide support. The beauty is when lines of the larger wave coincide with lines of a shorter term trading wave. Sure, you can use it with Elliot, why not, it can indicate the top or bottom of a wave.

GZ
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