Loading ...Morphology 101
Yesterday I posted what looked like a potential flag emerging from the “murk”
This could be a halfway flag to the upside
However point 4 was not correct …in hindsight
Rambus teaches that the 4th reversal point in a pattern can be and often is the toughest to spot in real time!
If this is to be a continuation ( half way ) Pattern ..point 4 is still to be determined
IF this is NOW point 4 the bottom line will look like this ( blue)
For now the pattern is open ended as we could still drop further before there is a point 4.
Rambus calls this a morphing pattern….ergo Morphlogy 101
Favouring a Flag, however my bias is toward an IHS, with this being the head portion building out now, over next few days to weeks. Cycle wise intermediate cycle trend line gave way today. From 1361 we had a 41 dollar drop (A), had a small counter trend (B) so equality in length gives us 1301 which is also the 50% fib of entire move up. I’m favouring that or 61.8% fib at 1286 but for now we wait and see!
I’ve been running something similar from a pattern identification perspective…you might clone that top line and drag it down for a possibility too.
Totally off topic Fully but you know and talk with the Cycles guys here offline. I keep seeing the $Silver getting slammed every 4th trading day sometimes 3 then sometimes 5 days but mostly 4 days? Am I just seeing things or is there a 4 day cycle going on? The ETF’s seem to be tracking $silver lately and this 4 day cycle just keeps slapping me in the face?
I haven’t heard of a 4 day cycle Red.
I don’t really see it on the chart.
Silver does get slammed though periodically .
With the COTs so favorable its frustrating trying to play it…
I keep seeing it in the SGR?
hey fully –
i don’t think you can draw your bottom rail using yesterday’s candlestick until that candlestick is reversed…