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Hi John,
Wave 4 must be lower than Wave 2 for bullish Wolfe Waves - those that set up
long positions. For bearish ones, the reverse is true. You can find a brief
description plus chart illustration at
www.wolfewave.com/an_illustration_along_with_the_rules.htm
where you can see that the #4 point is lower than #2.
An excellent explanation of the basic rules, with examples, can also be
found in the Raschke/Connors book, "Street Smarts".
Best wishes,
Michael Suesserott
> -----Ursprungliche Nachricht-----
> Von: jdfo [mailto:jdo1@xxxxxxxxx]
> Gesendet: Saturday, November 02, 2002 00:47
> An: realtraders@xxxxxxxxxxxxxxx
> Betreff: Re: [RT] A Wolfe Wave
>
>
> Mike:
>
> Do you consider this to be a true Wolfe Wave? I thought one of the
> requirements was that Wave 4 had to be higher than Wave 2. Is this not
> correct ?
> Why don't you give us your thoughts on what these requirements are,
> within the limits of what you can relate. I guess this is why
> you took the
> course.
> Thanks,
> John O.
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