Loading ...Captain EW count – Gold and Silver
Look at all TA’s including EW.
it is one person analysis.
Gold:
Our current low within wave *iv* is 1490.70.
Our retracement levels for all of wave *iv* are:
23.6% = 1495.70;
38.2% = 1451.30
Wave *v* and all of wave .iii. have an initial target of 1704.40.
We cannot rule the possibility that wave *iii* is still underway and subdividing further and hence going to extend to our second projected endpoint which is:
*iii* = 1.618*i* = 1745.60!
Silver
We are working on the assumption that all of wave .iii. is now complete at the 19.75 high and that we have been falling in our wave .iv. correction, which is likely now complete at the 17.47 low.
Wave .v. currently has a target of 26.09.
We could also could still be working on an expanding wave .iii., which also has a second endpoint of
.iii. = 2.618.i. = 26.09.
http://www.321gold.com/editorials/captainewave/captainewave092519.html
Elliot Wave sounds fascinating… maybe another rabbit hole I should jump into!
If you want here is the education start:
There is a book by Frost and Prechter : Elliott Wave Principle edition 10
https://elliottwavegold.com/education/
That is the place to start.
But be aware that F&P were not entirely faithful to Elliott’s own analysis.
Peter Temple at his weekly blog has recently been posting his issues with F&P.
His view is that the discord within the EW community on counts is often due to reliance on faulty rules popularized by F&P.