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Strategies & Market Trends : Ted Warren's Investolator
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To: investolator2000 who wrote (1260)5/13/2023 9:52:46 PM
From: WEagle  Read Replies (1) of 1795
 
I agree with I2's interpretation of the LFVN chart. That decent with a curved bottom is just a variation of a steep decent, followed by a more shallow decent that transitions to approximately float bottom and turns up. Ted didn't specifically document the rounded bottom but it still fits his shallow sloping decent and what I have seen since I2 pointed it out to me is that the rounded bottom is very reliable.

The longer term chart disguised what the chart was really doing. In addition, I don't agree with the triangle. A triangle should be formed by back and forth movements that kiss the upper descending or flat line that represents resistance and the lower rising or float line that represents support. (Of course, a triangle is not formed by both the resistance and the support lines being flat and therefore parallel to each other.) In the Elliot Wave world, most triangles have the price kiss the boundary lines five times. (Touch the upper, then the lower, then the upper, then the lower, and then the upper. Or, same idea but start the triangle with the first tough being the lower boundary.) A few might have the price kiss the boundary lines more than five times. And while the price may break the boundary slightly, boundary lines should not be drawn with significant price excursions beyond the lines.

WEagle
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