Loading ...GDXJ: Pullback Ends Tomorrow
Some here may recall that my Dec GDXJ bottom call was within 1 day from the actual bottom. Well, not my call – – – actually, Fibonacci called it. Tomorrow is day 21 of the current Fib time series, which means a reversal of the present pullback starts tomorrow…
time is infinite tho no? i have always wondered about time calcs bc of this.. certainly appreciate the chart sir..
all fib patterns, whether in the market or nature itself, operate within infinite expanse of time and space…yet you can still mark their beginning, development…and end.
There is a high probability that record employment numbers will be announced. If that
happens, likelihood is PM space will get killed.
http://mam.econoday.com/byshoweventfull.asp?fid=477637&cust=mam&year=2017&lid=0&prev=/byweek.asp#top
http://mam.econoday.com/byshoweventfull.asp?fid=477417&cust=mam&year=2017&lid=0&prev=/byweek.asp#top
you could be right! or we both could be right for the same reason.
rate hike odds for next week have been at 100% for some time and
tomorrow’s numbers aren’t likely to change that…
anyway – the fib time series doesn’t address “why” – only “when”.
maybe the fib time series gets extended to 34?
using other cycle methods, you could come up with a case for Mar 15, but for fibonacci…there is no skipping! 21 days first, which ends tomorrow, then 34.
ty rtv.. i am just not up on this topic tho i find it fascinating.
Curious to see if this plays out. Thanks.
lol! me too! just remember as I advised in Dec…trading is “hand grenades and horseshoes!”…not rocket science!
rtv- would your expectation be for a trading high on 21 days from friday? market days or number including weekends. ty sir
1. trading days, not calendar days.
2. no. next series will be 34 trading days, not 21 days, which is when i would expect the next trend reversal.
3. bear in mind that previous fib cycles continue to operate and can come along and exert their influence. for example, note that the december bottom was called based upon day 89 of the first (red) fib series.
4. also, when i see a confluence of one or more fib series, such as the august top, i will pay that special attention. this will also occur around the end of april/beginning of may, when day 34 of the 3rd (blue) fib series and day 89 of the 2nd fib series (green) fall within days of eachother.
5. one last comment – bear in mind that the next 34 trading-day period does not necessarily mean that price will roll higher. remember, that price can trend up, down, and also sideways! but whichever way this market proceeds – up, down, or sideways – i expect that to change about the first of may.
Got it ty for the explanation very insightful.