V.8:12 (449-449): Combining Andrews With Elliott Wave High by Ron Jaenisch

V.8:12 (449-449): Combining Andrews With Elliott Wave High by Ron Jaenisch
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Combining Andrews With Elliott Wave High by Ron Jaenisch

The first concept that a student of the Elliott wave theory learns is about the five-wave structure of a move. The first concept that a student of the Andrews method learns is that prices make the median line about 80% of the time. The two concepts are compatible and they are also complementary.

To draw an Andrews median line, do the following:

1. Find three consecutive pivots, sometimes referred to as turns or ends of Elliott waves.

2. Label the pivots A, B and C.

3. Draw a line between point B and C and label the midpoint of that line D.

4. Draw a line from point A through point D.

You have now drawn a median line. According to Alan Andrews, prices make the median line 80% of the time. It is not unusual for prices to reverse upon meeting the line.




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