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Strategies & Market Trends : Let's Talk Technical Analyisis (TA) -- Ignore unavailable to you. Want to Upgrade?

To: robnic who wrote (97)	12/21/2001 1:00:24 AM
From: MechanicalMethod	Read Replies (1) \| Respond to of 178

I can't see any reason to justify x4 using his rules. Also x3 should be where x5 is because he incorrectly calls the bar from x2 to x3 an upbar when it's actually neutral due to the equal lows. First upbar that identifies x2 as a B doesn't come until first bar after x4. His earlier work gave special dispensation for equal low bars if... I've forgotten but believe in this case using old rules this equal low bar is tolerated as an upbar because it thrusts above x1. Thus using old rules x2 is validated earlier permitting x3 where it is rather than where it should be at x5... and only if x4 is a valid downswing but it isn't! He died in 57 the same year One Way Formula was published. New Blueprints for Gains in Stocks and Grains was published a year earlier with different rules. His work is a good starting point for further refinement.