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If you have a clean 5 up, then expect an ABC decline. Ideally, the ABC will
retrace at least 38% of the 5 wave time, return to the area of the prior
w.4, and w.C will equal w.A. If the w.C subdivides into 5 waves and W.C =
W.A, then one might consider entering in the primary trend with a tight
stop. The problem is, particularly in bear markets, that impulsive waves up
can be followed by impulsive waves down and corrective waves up can be
followed by corrective waves down. One therefore wants to cherry pick the
trades on clean counts with confirmation from other work.
Earl
----- Original Message -----
From: "RB" <rhodes@xxxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Tuesday, September 24, 2002 9:39 PM
Subject: [RT] Elliott Wave question
> Since we have had a few posts about elliott wave and markets. I would
like
> to ask a question.
>
> If you have a up move a have a clear 5 waves up then the market starts
> down:
>
> 1. How can you tell if the down move is going to be an A,B,C correction
> or a 1,2,3, of a new 5 wave down trend?
> And how soon can one tell which it is?
> During the A or 1 wave?
> During the B or 2 wave?
> During the C or 3rd wave?
>
> Any indicators that tip the correct waves off?
>
> I can see that in trading it may not matter which wave as long as you
are
> short during the down move.
>
> But I am sure there must be a simple way to tell what is going on, so
one
> can be ready for the 4th and 5th waves down or the 1,2,3,4,5 waves up.
>
> Any ideas?
>
> Thanks,
>
>
>
>
>
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>
>
>
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>
>
>
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