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Excellent POINT
Ben
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----- Original Message -----
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
rosow@xxxxxxx
To: <A title=realtraders@xxxxxxxxxxxxxxx
href="mailto:realtraders@xxxxxxxxxxxxxxx";>realtraders@xxxxxxxxxxxxxxx
Sent: Tuesday, September 24, 2002 10:02
PM
Subject: Re: [RT] Elliott Wave
question
<FONT lang=0
face="Arial Rounded MT Bold" size=2 FAMILY="SANSSERIF">RB,
I'll give this one a try: 1) The first 2 waves,
either 1,2 or A,B are pretty much impossible to tell apart. 2) Wave C is
"normally" between .618 & 1.00 x wave A measured from the wave B top or
bottom. Wave 3 is "normally" between 1.618 & 2.618 x wave 1 measured
from the wave 2 top or bottom. Are these rules broken, of course! 3) What
is your clue that it's a C vs. a 3? Check out the action around the 1 or A
high or low on a pull back. Note the following: a) On the
first major retracement if price breaks back through the wave 1 or A high or
low it's more likely a C. b) On the first major retracement if
price holds the wave 1 or A high or low it's more likely a 3. Remember wave 4
can't encroach into wave 1's territory. Always be aware of what's
going on around a 100% extension of the first wave measured from the top or
bottom of the 2nd wave. Earl gave a good look tonight on his manual chart.
Price is now around the critical area of A = C. Any retracement back up must
hold below his W.A/1 for a 5 wave sequence to continue on down on that
60 minute chart. Any close through that point would signal an ABC pull back is
complete. Hope that makes some sense : >) Lenny In
a message dated 9/24/2002 9:31:04 PM Eastern Daylight Time,
rhodes@xxxxxxxxxxxxxx writes: <FONT lang=0 face=Arial
color=#000000 size=2 FAMILY="SANSSERIF">
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TYPE="CITE">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?
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