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There is another way to look at the same information. The April low
took out the previous January low. The High Couldn't take out the
previous high. In a down market the high occurs is the first half of
the cycle, where this high is located. If Gann and Gartley are correct
in their assumptions then the April low should be taken out on the
assumption that AB=CD. The outer channel won't turn down until it is
penetrated by price. Not that this analyze is correct, it is just
another way of looking at the same material. If you have a bullish bent
then you see it one way, if you have a bearish bent you can interpret
the data another. As the saying goes, "it is all in the eyes of the
beholder". Ira
Stan Book wrote:
> [Image]
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