Action Reaction Course 19

Where only Schiff MLs were used on the July Lumber 1982 weekly range chart you see some profit making signals by drawing the H and the WLs from the usual Pivots of the Schiff MLs. And as Mr. Schiff told members “use the weekly charts for overall picture but zero in with the daily charts”.

Notice the probability that there will be a good profit from the reversal each time prices reach an H or a WL as well as when prices again reach the original ML. For example prices climbed back to the 7 in 2 weeks to the Schiff 5-6ML whereas if the ordinary ML had been used there would not have been any sell signal due to prices reaching the ML as they did at 7. The dotted line is for the H or the WL, and the dash line for the ML. Notice how prices dropped back to the parallel of that nearly horizontal H from 7 for a one week rise signaling a big drop ahead which carried prices below WL#1 almost to WL#2 and then a made a 5 P Elliot rise to above the horizontal H of Schiff ML5-6 and then started a new ST of 5Ps from 9 to 10 reversing at the WLs repeatedly, for good profits each time.

There was not space enough to draw the other parallels and ML lines but if you put a transparency over this chart and draw those lines in, you will see that they too provide signals for additional profits. So remember to use these Weekly Range charts to increase your profits by using the Schiff MLs.