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Don
I have been following with interest you analysis on
the Spoo. It seems to me that much depends on where the trend lines
are drawn. I attach a chart with my original lines from way back and
I have drawn what I hope is your line - which shows the retracement to
it.
My lines are saying that the Spoo went up to the
top, poked its head over and then came back. False breakout.
Yours is looking like it might bounce on the retracement. All
depends on where the lines are.
Does the EW count depend on where you 'start' and
is this a common think for followers of EW or is it a matter of personal
choice. Like my saying that the trend lines are where I have put
them, or should they be as you have put yours? If you work with a single
line, of course you could have all sorts of angles, but if you have to have
parallel lines, then that is rather different.
You use EW a lot and I would appreciate you
comments...
Bill
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