AUSTRALIAN MARKET, page-3

i just finished these figs for someone else . Acouch is correct as he stated the 4th wave . below

some facts and figures based on xjo index.

1 range down 3500-3300 = 200 points
2 r/d 3420-3175= 245 p
3r/d 3260- 2980= 280p
where now in 4 r/d so estimate is
4r/d 3100 - = 320 = 2780

hope that makes sense the ranges are increasing on downward movements and the time is also decreasing which in a perfect world implies the next bottom to be 2780 or approx 2800 in the next week or so .
Gann or elliot wave theory implies generally 3 waves down with extreme being 4 waves down , where now in the 4th leg down . No guarantees but some times this is the game , or it is until no one wants to play anymore.
cheers ge