Update to earlier ideas. Positive divergence into "pre-Brexit" low were another hint a potential for strong rally. Note that the retrace was a shallow 38.2% of previous rise into the 23 June low. Future pull-backs may also be shallow in the 3rd wave, and targets could extend higher than I've indicated. My minimum expectation is what I've indicated with count placements and target boxes. Momentum technical indicators should become "embedded" without deep resets until the heart of the 3rd is complete.
Comments
nick.holland78
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Watching technical indicators for clues to the continuation or finale of wave iii of (iii) of circle iii of 3. These are the most pronounced waves in an Elliott Wave impulse, and metals tend to extend farther than seems reasonably possible. Check past rallies to see what I mean. I've added alternative higher targets, but please do take profits along the way if you followed me on this trade. I've already taken some off...
nick.holland78
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Update with refined targets and support/invalidation on micro picture. Remember, as I said above, "targets could extend higher than I've indicated" in which case support moves up for subsequent pull-backs. "Future pull-backs may also be shallow in the 3rd wave"...
nick.holland78
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Updated picture *without* annotations changed... Looks like (3)-(4) may have completed already. I'll post revised support and target regions later.