Miners going up

Nugt made an engulfed bullish candle that was greater than the previous day. I feel were now moving up for a final wave of an ABC correction. Dust and Jdst (bear shares) haven't been able to stay above the 10 ema for a several weeks (bearish trend). The dia and spy had a very bearish candle trying to go up in price today.

Stop at 9.20.

Dagangan aktif:

Wave points need to be adjusted a bit.

Dagangan aktif:

Miners haven't been moving well with gold. The markets are sideways as well. I feel gold will need to find a new support point. Everything is compressed and it makes a swing trade very difficult no matter what side of the trade you're on. I'm just going to wait for a brief dip then reenter. We're still in an up direction and I think the last wave will be much stronger. Most people believe wave 4 can't go into wave 1. I don't agree with that rule. Rules are meant to be broken. Do you always do everything you're told?? I don't think waves care at all.

I'm reading an Ion Copsey book and he pointed out what I believe wave 4 can go into wave 1. It's a hard read, but I agree with his concepts. If feel he and Elliot are both correct in different ways that meet at the same point.

If this last wave is extended I'd wide target $11-$12.

Dagangan aktif:

may hit resistance near 11.80ish, retrace, then head near 13ish

Dagangan aktif:

choppy, I'm now seeing retest and fill gap 10. Then up to original target box.

Dagangan ditutup: sasaran tercapai:

Target was reached. I'm not sure why it had such a strong sell off afterwards.