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Jim -
I was curious as to your interpretation of Tony Plummer's work on
estimating the extent of a move -- as I recall Tony was quite
emphatic about using only the alpha and beta waves to estimate
the extent of the delta wave. It appeared to me that his theory
excluded using this approach in the x or y waves to estimate z,
for example or using y and z to estimate alpha of the next
impulse wave.
Have you now extended Tony's theory to apply beyond the
alpha/beta couple?
Ned Markson
> Jim White wrote:
>
<snip>
> (1) The extent of an impulse move can be estimated as a fib.
> expansion of the last wave of the topping or bottoming pattern.
> According to Tony Plummer the "natural" expectation is 2.618
> with an outer limit of 4.236. The extent of a price trend can
> also be forecast as fib. expansions of the retracement moves.
> Using these rules it is shown on the attached figure ( double
> click the hotmail icon to open) that the extent of the move
> down from the 8/24 high was forecast at the 2.618 levels as
> shown.
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