wave b in a 1-a-b-c(2)

[finster869]

I just want to confirm that wave b in a 1- a-b-c(2) can extend beyond the price range of wave 1. Please advise.

Thanks!

[ruby]

You didn't ask me, but NO. Wave b wouldn't be part of a fourth wave. Or have I misunderstood your question?
Have a good weekend.

[finster869]

HI Ruby. I meant can wave b exceed the price level of wave 1 (it is moving in the same direction as wave 1). You can in Elliott Wave.....I believe it is called an expanded flat.

[ruby]

So I didn't misunderstand. This RTB is an expanded or a running flat. According to the NEW rule, when you see one, you know that you're in either the fourth of a 5 or in 4 of C. If I recall correctly, somewhere in the eBook there's a paragraph on that. So the RTB is limited to fourth waves. If they occur somewhere else, discard your count or the new rule :-)

[finster869]

Is this the quote in the e-book you are referring to:

"The 4th wave of any wave OTHER than 5 or C will NEVER set new price territory in its B
wave. So this becomes an inverse rule which gives better wave identification anytime
there may be questions arising from lack of detail in your data set."

If so, I read it to mean that the "b" wave in the 4th wave of a 1, 3, or A wave will not be an RTB. Since a 2nd wave is a 3 wave move, by definition it doesn't have a 4th wave, which is why I think you might be able to have a "b" of a 2nd wave exceed wave 1's price.

Any thoughts?

[ruby]

Any thoughts? Well, then it would have been easier to say: "RTBs can occur anywhere, except in fourth waves of 1s, 3s and As. They will always occur though in fourth waves of 5s and Cs."

[Bogie]

(02-27-2010 09:14 AM)ruby Wrote:  Any thoughts? Well, then it would have been easier to say: "RTBs can occur anywhere, except in fourth waves of 1s, 3s and As. They will always occur though in fourth waves of 5s and Cs."

Hi Guys!

Ruby, if Tom agrees that your statement, quoted here, is accurate, then you have broken down the rule into it's simplest, and easiest to understand statement that I have seen yet. Thanks!



Bogie

[finster869]

(02-27-2010 10:30 AM)Bogie Wrote:  

(02-27-2010 09:14 AM)ruby Wrote:  Any thoughts? Well, then it would have been easier to say: "RTBs can occur anywhere, except in fourth waves of 1s, 3s and As. They will always occur though in fourth waves of 5s and Cs."

Hi Guys!

Ruby, if Tom agrees that your statement, quoted here, is accurate, then you have broken down the rule into it's simplest, and easiest to understand statement that I have seen yet. Thanks!


Bogie

I agree. If we are correct, then Ruby's statement does seem to break the rule down into an easier statement to understand (at least for me).

[ruby]

I'm not saying that this is correct - I'm just saying that Tom would have put it that way, if it were correct. He doesn't appear to be the complicated type.

[finster869]

Hopefully, TS will have a chance to chime in soon.