interesting thread.
thanks
dharma
Posted 08 December 2015 - 11:13 AM
interesting thread.
thanks
dharma
Posted 08 December 2015 - 11:39 AM
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.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]
My BS
Senor
Posted 08 December 2015 - 02:38 PM
yesterdays action was on less volume than fridays up action
also , open interest expanded yesterday=new shorts being put on
dharma
Posted 09 December 2015 - 08:23 AM
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.
In the world of 0 and 1: "austerity" is the right thing to SAY; "spent more, print more" is the right thing to DO.
"You miss 100% of the shots you don't take."
~ Wayne Gretzky