31 3 1
Additional insight into earlier hourly count. This is no complex to short in my view, and new longs are cautioned on supposed completion of minor wave 1. However, over 20.40 would be a strong indication of the alt 1-2 count, with wave 3 underway.

Wave 2 consolidation can take several forms, and may be shallower than indicated. Easing in on the initial (a) wave retrace is advisable.

A corrective pullback, followed by taking out the top of whatever presumed coming high, would be a high confidence trade suggesting the winter low was the completion of a multi-year correction.

Just my view.
Below 20, my expectation is that the blue box will be visited at a minimum. Breaking below the red line doesn't mean the rally is over, just that wave 1 off the lows is complete and wave 2 is in progress. My primary expectation at this time is that wave 2 is in fact underway, and I want to be long in this complex for the next rally which, imo as a 3rd wave, should be quite impressive. Corrective moves into support regions indicated, followed by an impulsive motive wave taking out the 21.42 high, will confirm (from an Elliott Wave probability standpoint) that a significant low was seen earlier this year.
GDX had broken down below initial support, suggesting wave 2 may well be in progress.
Looks like a nano 4th wave to me. Could turn into another Ending Diagonal, too, which would take longer to complete wave 1 but should reach targets closer to high 23s, 24 region.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out