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Gold/Mining/Energy : Winspear Diaminds (Bulls Board)
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To: marcos who wrote (530)2/12/1999 11:56:00 AM
From: High Grader  Read Replies (2) of 1172
 
Thanks for the comments Marcos.

I have seen a lot of active resource stocks follow ew patterns.

It is difficult to count the wave without seeing what you want to see in it and for that reason I use a good software package that takes most of the subjectiveness out of it. The secret lies in the method used for trading with the wave.

If a breakout above the wave three high occurs in this case then it confirms the count and allows for a profit to be taken from the portion of the fifth wave above the third wave. Target levels to take profits become apparent as the subwaves form and allow calculations to be made. Along with price, dates can also be calculated that have a high probability for places where turns will occur.

The nice bounce off the 38 % level in wave four, occurred exactly where the wave theory says it should have, and was easily picked up with the right indicators.

The EW gives a structure to the market that can be used to trade from. It must be confirmed by other means and of course you always have to trade the market not the forecast.

Thanks for the links. There are at least two kimberlites in my area. One is being checked but the other is not even staked. The diatremes are interesting too and I am trying to find out if there is any possible interest in them.
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