123Tom's TA study group

[sab63090]

Elliott Wave ($AVXL)

I remember Bob Prechter speaking about triangles some years ago & if I'm correct he mentioned that they often occur while finishing off a 4th Wave with the 5th wave next....I now that DYP mentioned this weeks ago and I think I was the only response to his post. Additionally, he recently mentioned the smaller triangle, too. He was correct.

I used the 21 level down & the appx 16 level up...it oddly came near to convergence around the 200 day (actually higher) and we broke down below the 200 day to kick in.....the target would be 5 points down from high/low spread break, using 18 minus 5 = 13....which I think Kentucky123 had as his objective.

Something to remember is that most return moves go the the 4th wave area....(thinking 17-18) if correct.

Try to remain flexible and watch your money!