Parallel angles or lines run from important tops and bottoms. As previously explained, the 45o angle is the most important and should be drawn from all important tops and bottoms. If a stock starts advancing, we draw a 45o angle from the bottom –- then if the stock makes top, declines and makes a higher bottom –- then advances and makes a higher top, we draw a 45o angle from the first top, running the line up. This will give the oscillation or width of fluctuation in a parallel between the 45o angle from the bottom and the 45o angle running up from the top. Often a stock will advance to the 45o angle from the first top, fail to cross it, then decline and rest on the 45o angle from the first bottom –- then advance again, working up for a prolonged bull campaign between these parallel angles.

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