NYSE:AGI   ALAMOS GOLD INC CLASS A
22 6 3
Alamos Gold             broke its recent low today. Next retrace fib support is the 38.2% at 5.81 (white line). Remember, my fibs are calculated outside tradingview, all log-scale.
Pattern looks like a possible Ending Diagonal in (v) of C of (2). Can try to catch the knife here. Safer play is to wait for an initial impulsive pattern off the presumed coming low, then buy support with stop just under that low.
My alert just went off. Looking good for continuation in the presumed start of 1 of (3). Ignore the red line, that's a reference to a 17Mar17 5/7.5C Risk Reversal options trade I put on near the lows...
snapshot
Reply
New low at 5.97, it if holds, will have minimal effect on my targets. IF this was and ending diagonal which has completed then price should be over 7.00 real soon.
snapshot
Reply
nick.holland78 PRO nick.holland78
Sorry, wrong chart. Copy paste error...
snapshot
Reply
I am also on EWT. Could u provide more detail on how you calculate your log scale fibs? Are u using a pine script?
Reply
@tradingmama, No, calculating them outside tradingview with excel. Check my 4hr idea on VGZ from last week which includes the formula on the picture. Also demonstrates why arithmetic fibs are worthless on big moves. Really shows up in log scale. Small timeframes, for smaller degree moves, the arithmetic fibs are fine if you recognize that you're likely to see extensions. I use my larger-degree log-based fibs to keep overall targets in view. Sometimes I just go with the right 'look' for placement on log scale, then watch for the price pattern to fill out when price approaches my target.
Reply
Like this on the hourly chart.
snapshot
Reply
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out