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Question Of The Week - 5/16/2007 |
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Question:
Referring to Fig. 8-25 of Mastering Elliott Wave, "is it possible that wave X could retrace into wave A and still hold the pattern implications?"
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Answer:
Sent in by James of Germantown, MD, you will need a copy of Mastering Elliott Wave to get the full gist of this question.
The answer is YES, but you want to make sure wave-x is not retraced more than 61.8% of the first a-b-c pattern. X-waves should never retrace more than 61.8% of any zigzag. If they do, something other than an x-wave is unfolding.
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