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To: skinowski who wrote (115085)3/19/2005 10:52:01 PM
From: Galirayo  Read Replies (1) | Respond to of 209892
 
Ski .. Do you have a chart worked up showing that Flat?

It would be a big help in understanding .. especially for me. :)

Ray



To: skinowski who wrote (115085)3/20/2005 12:41:06 AM
From: nspolar  Read Replies (1) | Respond to of 209892
 
SKI I was showing and discussing a 'running flat', not a regular flat. Let us be specific here. The link I posted, and I think it is a good site, specifically states:


<e. Running Flat

Pattern

Description

The Running correction is a rare special form of a failure. This pattern is a kind of Flat, with an elongated B wave and a very small C wave. According to theory wave C should be so short that it doesn’t get to the price territory of wave A. In our daily analysis we do not accept a C wave that fails to reach the price territory of wave A.

Instead of a running correction this could in theory be an extension in an impulsive wave, where the wave has subdivided in two (or more) 1,2 combinations. If the B is a clear three wave, then it is a Running correction, otherwise an extension. In practice there will not be any difference in market direction: in both scenarios the market will explode in the direction of the B wave, therefore we prefer to label it as an extension. For the sake of correctness we do included this pattern in our daily analysis.

Rules and guidelines

The B wave must be composed of three waves.
The C wave must be composed of five waves.
Wave C must be very short and normally will not reach the price territory of A.
Wave C must not retrace more than 100% of wave B but more than 60% of wave A.
In which wave

Most of the time it should occur in wave 2 or B.

Internal structure

It is a three-wave structure. The internal structure is
3-3-5.>



If you go further there is a section on 'modern rules'; and it has this about 'running flats'.



<d. Running Flat (modern)

Pattern

Description

This pattern is exactly the same as a Running Flat, except for the fact that it must retrace more than 60%, if not we consider it to be a normal Running Flat. This distinction is necessary, because normally a Running Flat is rare. But if it retraces more than 60% and still fails to reach the end of wave A, it suddenly becomes much more probable the pattern will occur. In which case it will get a much higher score.>