23 replies to this topic

[dharma]

interesting thread. 

thanks

dharma

[dougie]

Looking more and more like el B wave action here

Senor; assuming you mean 1191 from October http://schrts.co/WoYZD8??
 
The ending diagonal triangle, or wedge as many call it, is a narrowing price move composed of two converging trendlines highlighting a wave 5 (many times) extension pattern. The chart to the right shows the ideal example. The ending diagonal is a special type of [/size]motive wave that occurs primarily in the wave 5 position when price has moved too far and too fast. I like to think of it as a rising or falling consolidation. Some ending diagonal triangles appear in the C wave of an[/size]ABC correction, but that configuration is rare. In all cases, the ending diagonal terminates the move of larger patterns. [/size]

S,i the drop from 1191 to 1045 "could be" wave A of a final large 3-step ABC leg down to end a very large diagonal wave 5 of C to possibly end the entire 4 yr correction from 1921. I give it 40% odds vs 60% that a final low "might" be in place, just my opinion. If we now see a wave B up it would likely retrace 50--62& of that possible wave A decline.
 
My BS
 
Senor

[dharma]

yesterdays action was on less volume than fridays up action

also , open interest expanded yesterday=new shorts being put on

dharma

[tria]

Could be a crucial day in a way.

GDX (ma X) and Silver (emas X) on the cusp of triggering reliable/semi-reliable signals.

On the other hand the upside is capped imo, if GDX jumps much above $15.00 here and now I'll be pleasantly .

 

 

 

 

The fact is the more I trade, the more I make.

The more I wait, the more I frustrate myself.

This won't be always the case, however...

Edited by tria, 09 December 2015 - 08:27 AM.