17 replies to this topic

[gannman]

the final wave down of this correction started on nov 29 at about 3 pm we have done waves 1 2 and 3 and this rally that failed today is a wave 4 . so wave 4 has peaked i think and wave 5 down started at

 

about 2 42 pm if i am right the selling should almost be over.and we should rally strongly.  if i am wrong then we go lower we ill find out tomorrow

[gannman]

and according to my count if the xau exceeds 82 and stats there then wave 3 is in force 

[senorBS]

XAU/GDX etc are either right now in the latter stages of wave "e" of 4th wave contractings or we are headed up in a near term wave 3, we see

[senorBS]

The XAU just eliminated the possibility that this rally could be wave "e" of a contracting tri, now it could evolve that ths is wave "c" of a contracting but I am starting to lean to the near term wave 3 count IF we close strong today

 

Senor

[dougie]

I like the c count but franklu something more bearish still alive

[senorBS]

I like the c count but franklu something more bearish still alive

I think the "more bearish" count (below 1046) lost some sgnificant odds this week, it's not dead but IMO had gone from lets say 50/50 to 75-80% against. just my opinion

 

Senor

[dougie]

Why is that? Lack of impulsive count down?
I can't easily make out 5 waves up off the lows since january

[dougie]

my count for the down move: please attack it (alternate is 1 is A 2 is B and we  are in C

 

Edited by dougie, 03 December 2016 - 07:45 PM.

[senorBS]

my count for the down move: please attack it (alternate is 1 is A 2 is B and we  are in C

 

look again at your slow stoc, RSI, Fibs A/d chart and rethink what is/was 3rd wave action vs probable ending 5th wave )of possible large correction). nothing for sure but the technicals are screaming at you the third wave ended a long while back and a 5th wave of a possible ending correction probably just finished - this is WHY we use technical analysis to help tell us what wave it likely is and whether a move is likely ending or will continue. No more comments from me on this

[dougie]

I concur that this 5th MAY have ended Dec 22. I take it you mantain this 5th is 5 of C?

Edited by dougie, 04 December 2016 - 08:22 PM.