“When semi-log scale becomes necessary, inflation is present. If semi-log scale is used and inflation is not present, wave 5 will not reach the parallel line by a good margin.”
R. N. Elliott, Nature’s Law, 1946
ELLIOTT’S CONCEPT OF channelling was originally introduced in The Wave Principle published 1938, in which Elliott was quite insistent upon the use of arithmetic scales. It would appear by 1939, his insistence had waned somewhat and by 1946 when he published his magnum opus, Nature’s Law, this view was completely revised. As mentioned previously, Elliott probably found the upper limits of his trend channels habitually violated.
In Nature’s Law Elliott is quite emphatic on the use of arithmetic ...