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>I have a question for all of the Elliott afficiandos out there. :) >I've been reading 2 books on Elliott Wave: Elliott Wave Explained, by >Robert Beckman, and Elliott Wave Principle, by Robert Prechter. They >disagree on a very important point: the time necessary for corrective >waves to form. >Beckman says that the time required to correct an impulse move should be >in a realistic proportion to the overall time frame of the impulse. >IOW, if an impulse move lasts N amount of time, the corrective sequence >that follows should last somewhere in the order of N x .382 to N x .618. >Prechter says that this is not necessary. From what I can infer from
Chris, if I recall correctly, Elliott himself, in his writings (the Wave's Principle ane Nature's Law, the ONLY Elliott Wave Theory source, though Beckman studies provide the philosophy of this intriguiging theory) stated that a corrective move is usually - but not necessarily - in proportion with previous impulse move it correct. In fact, sometimes, there could happen a corrective move last substantially more than the impulse move: think about a sharp rise followed by a prolongued congestion phase. In his books, Elliott provided some historical examples of this belief.
"wavely" ( ala Norman) Gae
%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%% Gaetano Arnaldo Evangelista - BARI (Italy) E-mail: ageitaly@xxxxxx URL: http://www.geocities.com/wallstreet/8492 %%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%
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