Dave with the indices rallying the other day youi mentioned you saw downside to 10300ish before upside. Does this move up in equities mean you will be using an alternate count? If so what does this mean for the Dow? Could we break into the 12k range?
So DaveO and Subz in terms of your counts and bear with me because I am new to this
(1) downside to 10518 with possible ext to 10242 (2) Upside to 11300 with ext to 12000 if we close above 11500 (3) Then huge fall back down? What would be the target in this scenario?
Hi Dave this post is very interesting. Can I ask a few questions.
(1) What would be the target for the new low to complete 5th wave down? (2) I don't understand why this why this sequence will represent Wave 1 down? (3) What is the target range for Wave 2 up?
SPX pattern exactly as predicted, it made the 127% extension on 1hr chart for wave 4 but we now need a new low to complete the 5th wave down in the sequence. That sequence will represent a minor wave 1 down. Wave 2 up will then follow but must not make a new high for the count to be validated. Wave 3 down will be the biggie, you aint seen nothing yet ! There is an alternate bearish count which I wont bother to describe unless it starts playing.
So at what point do you start shorting Gold? Surely its due a pullback. The rise from 1480 has been too fast. I'm thinking a short at 1600 on a technical level how do you analyse as this is uncharted territory.
DaveO would love to have your thoughts on this mate
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ما وراء هبوط الدولار مع الذهب و من منهما يتمكن الارتداد؟
موعدنا الآن في غرفة شركة إكس أم لجلسة الأسواق
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(1) downside to 10518 with possible ext to 10242
(2) Upside to 11300 with ext to 12000 if we close above 11500
(3) Then huge fall back down? What would be the target in this scenario?
(1) What would be the target for the new low to complete 5th wave down?
(2) I don't understand why this why this sequence will represent Wave 1 down?
(3) What is the target range for Wave 2 up?
SPX pattern exactly as predicted, it made the 127% extension on 1hr chart for wave 4 but we now need a new low to complete the 5th wave down in the sequence. That sequence will represent a minor wave 1 down. Wave 2 up will then follow but must not make a new high for the count to be validated. Wave 3 down will be the biggie, you aint seen nothing yet ! There is an alternate bearish count which I wont bother to describe unless it starts playing.
Thanks in advance
DaveO would love to have your thoughts on this mate
Thursday short in gold at 1530/40 for limit at 1520-11, was hit (low at 1522), stop was at 1555