AMEX:TRX   TANZANIAN ROYALTY EXPLORATION CORPORATION COMMON STOCK
167 9 1
I'm short term bearish . But long term bullish

Looks like a x-wave up today. So took of 2/3
Chart a little messy I know but... we should see a zig zag down to yellow c
But as always...time will show
Safe trading ladies & gents!
BM
Music at work:
http://open.spotify.com/track/7k30aP2fb4EYodo39QiD8r
http://www.youtube.com/watch?v=UoetokE6hrg
If my latest chart pans out then here is another argument for due to harmonic patterns...2 bullish Gartleys after another. After having made a 3 drive to a bottom which is a bottoming signal it makes sense that the stock is now very bullish in its patterns.
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WallStScalper WallStScalper
Characteristics of the “Gartley 222” Reversal Pattern

The swing from Point A will terminate at Point D. This will be at the 0.618 or 0.786 retracement level of Swing XA 75% of the time. The other 25% of the time the retracements will be 0.362, 0.50, or 0.707. A 0.50 retracement is a strong pattern.
There “should” be an CD = AB pattern observed in the move from A to D. At times CD may equal 0.618, 0.707, or 0.786 of AB. At times CD may equal 1.272 of AB.


The BC move will typically be 0.618 or 0.786 of AB. In strongly trending markets expect only a 0.382 or 0.50 retracement.
Analyze the time frames from Point X to A and A to D. These time frames will also be in ratio and proportion. For example, assume that the number of time bars from Point X to A is equal to 17 bars and the time bars from A to D is equal to 11. Eleven is approximately 0.618 of seventeen.
There will be a few instances where the CD = AB move will give a price objective at Point X. This will be a true double bottom or double top formation.
If Point X is exceeded the trend will continue to move to at least 1.272 or 1.618 of the X to A move.
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WallStScalper WallStScalper
TRX Did as expected today Friday! Made the smaller bullish Gartley (222)
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WallStScalper WallStScalper
A SP run for the 1807/17 handles and miners could come under pressure and make the second leg down. That would probably also mean Xauusd is making a low under 1840 - making a flat on daily.
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After the X-wave yesterday a possible double bottom could be lining up with an ABCD pattern.
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Holding up well compared to metals.
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Dollar might have a little bullish momentum juice left in the tank. looking it over right now
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WallStScalper QuantitativeExhaustion
If gold makes a flat on daily... 1180 might be tested again
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That would even out the Gold/Silver ratio. Silver is within a few dimes from it's previous low too.
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