GDX - Chart Link - For this potential
wedge per the rules, wave E cannot exceed wave C, so for you gold
bugs, you better hope it stops going down soon...
technically probably better if it doesn't. Just like
technically wave 4 can't overlap the high of wave 1 on a 5 wave
pattern, but in reality you don't want to see wave 4's pullback
even close to that amount, probably same thing here.
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Posted by matt on 22nd of Jul 2015 at 04:52 pm
GDX - Chart Link - For this potential wedge per the rules, wave E cannot exceed wave C, so for you gold bugs, you better hope it stops going down soon...
so technically wave e can
Posted by himsa on 22nd of Jul 2015 at 05:38 pm
so technically wave e can still go down 1.50 more
technically probably better if it
Posted by matt on 22nd of Jul 2015 at 05:48 pm
technically probably better if it doesn't. Just like technically wave 4 can't overlap the high of wave 1 on a 5 wave pattern, but in reality you don't want to see wave 4's pullback even close to that amount, probably same thing here.