Triple 000 and Sub-penny Chart Plays

[trader53]

BTFL - WNTR - the 3-to-5 bar decline rule, after an EW 5-Wave decline

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The 3-to-5 Bar decline Rule,
works well, when used in conjunction with Elliott Wave Theory.

Use the 3-to-5 bar Rule,
when Buying at the bottom
of the 5th Elliott Wave.
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The 3-to-5 bar decline rule,
is what I read once
in an Oliver Velez book.

After a stock declines 3-to-5 bars,
he teaches his traders to buy 1/8th above the previous high
of the last bar.

But, this is after the stock has risen above the 20 and 40 MA.
The census is that neither the Bears or the Bulls,
ever win 3-to-5 battles in a row.

http://stockcharts.com/h-sc/ui?s=BTFL&p=D&yr=0&mn=1&dy=20&id=p17837449521

http://stockcharts.com/h-sc/ui?s=BTFL&p=D&yr=0&mn=2&dy=10&id=p00374408828