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First of all I want to apologize for not getting back sooner.
I also want to apologize for that direction of determination of that number
1388. I am sorry for the confusion here. There is so many ways to
determine market distance. So I best tell you the two systems I use to
clarify this clearly. For daily charts and bigger waves I used what I
described in taking the leg of 76.40 and adding it to low of 1285.2 which is
only 1361.6 or close there to and that would be wave four which I only use
on daily waves. But, this came to me from Nick VanNice,(trader & educator)
take the same first leg the distance of 76.40 and add it to the top of wave
1 which is 10/22 and you have the whole movement of the market, or wave one
thru five. This number would be 1394.4 and I ussually take a few off there
to make sure I get hit. That is the 1388 number.
Also, let me clarify another question that came to me. My daily charts
showed a complex correction from the middle of July to middle of Oct. this
is a Wave 4 in larger frame. I call it my daily Wave 4, we have now
started a daily wave five. Now what I have been describing in the time
frame of 10/18 till now is smaller waves or waves within waves. I call them
intraday waves. And intraday I use Nicks determination of the market.
Hope this clarifies and again my apologies.
charley
----- Original Message -----
From: <joachim@xxxxxxxxxxxx>
To: charleydan <charleydan1@xxxxxxxxxxxxx>
Sent: Sunday, October 31, 1999 2:37 PM
Subject: Linear Regression
> Charlie....... I am not an Elliot base trader but an working out the
> basics........ How did you come up with that calculation of 1388 at a
> possible top? I have tried all sorts of number based on you post and to
> no avail.....
>
> John
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