SILVER Elliott Wave Technical Analysis – 5th December, 2014

Charts only this week.

Click on charts to enlarge.

Main Wave Count

At 18.430 minute wave c would reach 1.618 the length of minute wave a.

Alternate Wave Count

This is possible but unlikely. Minor wave 2 is too brief and shallow to have the “right look”.

5 thoughts on “SILVER Elliott Wave Technical Analysis – 5th December, 2014”

1. Sorry Victor, its a typo. I should have said 18.430 is 2.618 the length of minute wave a.

I agree, the Fibonacci retracements are wrong. There seems to be a problem with Motive Wave, its doing these calculations wrong. Dammit. That means I have to do it manually. What’s the point in having a Fib retracement tool if it doesn’t work? Ugh.

2. Victor says:

Hi Lara.

I just discovered moments ago, reading your earlier Silver Analysis of 1st December 2014 that you stated there: “At 18.430 minute wave iii would reach 2.618 the length of minute wave i. This is close to the 0.618 Fibonacci ratio of minor wave 1 at 18.812.”

So your statement here that “At 18.430 minute wave c would reach 1.618 the length of minute wave a.” which I commented on in an earlier post is merely a typo error. The ratio should be 2.618 instead.

However, I still have problems with your other numbers. My calculation could not match up to those Fibonacci percentages in your chart for wave c targets: 61.8% (18.812), 38.2% (17.283), 23.6% (16.400).

3. Victor says:

Hi Lara.

I refer to your Main Wave Count where you state: “At 18.430 minute wave c would reach 1.618 the length of minute wave a”.

My calculation differs substantially from yours. My 1.618x length of wave a for wave c is 17.030. At the 18.430 target, wave c would have to be equal to 2.459x length of wave a.

The following are my notes for your checking:

* wave a = 15.040 -> 16.704. Length = 1.664

* wave b = 16.704 -> 14.338

* wave c = 14.338 -> ??

1.618 x wave a = 2.692. If wave c is 1.618x wave a, then wave c = 14.338 + 2.692 = 17.030

If wave c is at 18.430, then length of wave c = 4.092 (i.e. 18.430 – 14.338), which is 2.459x length of wave a (i.e. 4.092/1.664)

4. dsprospering says:

Hi Lara,

Minute C in Minor 2 just (barely) passed the 38% FIB tgt. Will you keep us posted as to when you think Minor 2 is over? [Of course you will] I’m referring to your chart. The analysis description mentions minute iii, but I see ABC charted.

Was feeling really anxious about waiting on he overall downward structure to resume, with minor 2 completed — Same for GOLD– and then I looked over some of the other comments. It’s really helpful, glad you have them. Your analysis has been correct so many times regarding overall direction. Thank you for that and for starting EWG..

1. I may throw up a Silver chart today for you.

I think both Silver and Gold are today within minuette wave (iv). For both markets I see more upwards movement to complete the structure of a second wave correction (minor degree for Silver, intermediate for Gold). For both markets when that is done the downwards trend should resume in earnest, it will be VERY strong. But we’re not there yet.

And thank you, and you’re welcome 🙂