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EWO Repeating Pattern may offer insight:
Do not confuse EW counts with EWO counts but the “EWO Pattern” backs up projected EW count…
Wave 4’s normally retrace 38% which would mean next move up in GDX should end around 15.33 (also would close the gap and pretty close to WW target on 2HR Chart previously posted)… Would then expect to go back down to finish the ‘5’ for a Wave 3… However, with Friday’s COT Report we may get a bigger bounce up!!! Let’s see how it pans out… this is just a guide…. trade the indicators on the 2HR Chart…