| DEC 1990
Combining Andrews With Elliott Wave High by Ron Jaenisch
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.
by Ron Jaenisch
Technical Analysis of STOCKS & COMMODITIES
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