Familiar Pattern?
Does this pattern ring a bell with anyone?
Here is its big brother:
I have seen these patterns before and almost without exception they foretell a decline. Since this is just an hourly pattern, it shouldn’t be all that dramatic. I have seen others project a ~20% correction which sounds reasonable. Another piece of the puzzle. By the way, this EW pattern is still in play:
I bought some insurance today (JDST) but I am still holding my core PM miner positions. Good luck everyone.
Thanks, interesting comparison. It would be useful to see how ETFs compare with mining stocks that are not the play thing of the banks.
Pretty quiet on the board today so far…no doubt we’re all watching the action and seeing how far we go down and whether this baby turns today.