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Clyde Lee wrote:
> For those interested, latest fit!
>
>
> -------------------------------------------------------------------------------------------------------------
>
> [Image]
>
> Clyde Lee <clydelee@xxxxxxx>
> Chairman/CEO
> SYTECH Corporation
>
> Clyde Lee
> Chairman/CEO <clydelee@xxxxxxx>
> SYTECH Corporation
> 7910 Westglen, Suite 105 Work: (713) 783-9540
> Houston Fax: (713) 783-1092
> TX Netscape Conference Address
> 77063 Netscape Conference DLS Server
> SYTECH Corporation
> Additional Information:
> Last Name Lee
> First Name Clyde
> Version 2.1
Hi Clyde,
"In my opinion" I see two things wrong with that chart:
1. The Wave 3 was not pre-qualified (NOT STRONG)
2. The Elliott count used is a ALT COUNT 2 (which is only used to see
a five wave sequence inside a strong wave 3)
The next question you probably have is: "What's a strong wave 3?" a A
pre-qualified wave 3 is one that is double the size of the previous
move.
Let me explain: IMO, the best way to check the wave count is as follows:
After trading Elliott for 15 years you learn that some wave counts are
tradable
and others are a complete waste of time.
In order to find a pre-qualified wave 3 you need look at the Elliott
Oscillator or
(5/35 oscillator). Measure the height of the oscillator in wave 3 (above
the Zero line and then compare that number to the number the last move
the oscillator
had below the zero line.
This one tool alone will throw out the subjectivity involved in Elliott.
--
Matt Bowen
Sales/Support
Trading Techniques, Inc.
mbowen@xxxxxxxxxxxxxxx
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