6 replies to this topic

[gannman]

it bottomed about 167 on dec 20 and then rallied to 223 on feb 8 for 

 

a total of 56 points or a fibo 55 

 

so far it has pulled back to 209 area or 14 points 

 

looks to me like we need one more drop down to 209 or slightly below to 

 

complete the C wave of an abc correction fwiw

[gannman]

and the other way to count it is that the spike bottom this morning was the end of wave ii  we will see

[Geomean]

I've found Larry Pesavento's harmonic number idea to fit pretty well with gold (@$34 moves, 1/2 moves @ $17)  Expect this minor wave 2 to be compound and to last longer, and that we are in a minuette zig zag wave iv of c with its tiny wave iii (or v?) appears ended with last hour's spike, (counting the a done at the 2/15 low). perhaps even with a new ST high if it was iii  but the 1.272 extension is just shy at 1245.8. 

[gannman]

i am wondering if we bottomed out today slv is very strong doesnt want to budge. we will know tomorrow that is for sure

[AChartist]

cycle lows have moved closer, if you see an initiation could be it.

[Smithy]

Good call, Tim.  How long do you think the run should last in your opinion?

[AChartist]

Good call, Tim.  How long do you think the run should last in your opinion?

 

Hello, unless there is still one more dip possible it will run 35-40 weeks.

 

Since I cant judge exactly how a low can form for example last week the low looked like two weeks up, dip for 1-2 weeks and go,

 

then this week the low moved in closer either this or next week, it vascilates around like that. While there is one strong cycle up that can

 

override all of it locking he low in early there is nothing to do but buy and hold. But still it would run a long time so nothing wrong

 

with those that wait for other confirmations. So I will update as we go but really, when I look back for example at what cycles looked

 

like at historic lows, they can come early or late, cant out think it.

 

 

For this one my trading plan is leverage up as it goes and maximize it for 35+ weeks.

Edited by AChartist, 23 February 2017 - 06:18 PM.