The channel on the hourly chart was not clearly breached, and a new low below 1,277.47 has invalidated the main hourly wave count and confirmed the second alternate. Now we have some clarity I have just the one hourly wave count for you today.
by Lara · April 22nd, 2014 · Gold · 3 Comments
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by Lara · April 21st, 2014 · Gold · 3 Comments
I had expected to see a little downwards movement to begin the week, to reach slightly below 1,282.60 but not below 1,277.79. So far price has reached down to 1,282.04 and turned up slightly.
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Yesterday’s analysis expected a little upwards movement to about 1,313 before some downwards movement to just below 1,282.60, but not below 1,277.79. Price moved sideways in a very small range.
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by Lara · April 17th, 2014 · Silver · 5 Comments
The wave count was invalidated with downwards movement. I was too quick to label the C wave of the triangle as complete.
Overall the wave count remains the same.
Click on charts to enlarge.
Minor wave B still looks like it is unfolding as a regular contracting triangle. Within the triangle minute wave c now has a better more typical look, and so with this anlaysis I am more confident it is finally over. Minute wave c is now an 82% correction of minute wave b which is a very typical length and gives the triangle the “right look”.
This wave count now expects more upwards movement to complete minute wave d as a single zigzag.
Minute wave d may not move beyond the end of minute wave b above 22.224.
If minute wave c continues lower it may not move beyond the end of minute wave a at 18.585.
Overall this wave count expects to see very choppy, overlapping sideways movement for a few weeks yet in an ever decreasing range.
The structure of minute wave c is complete and looks clearly like a “three” on the daily chart.
Within minute wave d no second wave correction nor B wave may move beyond its start below 19.232.
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by Lara · April 17th, 2014 · Gold · No Comments
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