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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: ViperChick Secret Agent 006.9 who wrote (16025)	4/10/1998 12:35:00 PM
From: SE	Read Replies (1) \| Respond to of 94695

"right angle triangle if you ignore the noise (spike) created on the front end of the triangle" I don't have the text reference here, but as I recall, part of the goal is to get the "mean" of the chart pattern and frequently there are spikes or noise created outside of the pattern. I believe I read this in relation to drawing trendlines, triangles and other patterns which of course can make the positioning of the lines very very difficult. If you ignore the spike, by how much to you ignore it? If you don't ignore it you may have a different read. Many times I have looked at a chart, drawn the trendline only to say to myself, that maybe it should actually be drawn this way and then I get a different read. I guess that is the art of the chart read, as opposed to the science and the art is the part I fail at! <<gg>> The difficult part is getting all the lines etc in place and then making a read at the very right hand side of the chart. If you wait two weeks the read will seem obvious, but as it is being done in the here and now, it seems like going out on a limb. In fact, as I understand it, which isn't saying much at all, that is the hard part about the Elliot Wave theory. In hindsight, rather easy to draw all the waves and sub-waves etc, but when you are at the right side of the chart trying to figure if this is the end of the wave and beginning of the next or a continuation of the prior or..... ....well you get the idea. -Scott