FX:XAGUSD   Silver/U.S. Dollar
204 5 0
bitcoin chart pattern is similar to silver             . silver             too seems to have an expanding diagonal also
Can you add any reasoning or insights as to why this count is logical?
+1 Reply
user100000 timwest
sure, 2001 was the a large degree low after years of bear market. lets call it wave 2. after a correction ends we expect an impulse wave up (5 waves). because wave 4 moved into the wave 1 territory the market is telling us it's not a normal impulse wave but an expanding diagonal. the rules are wave 5 should be larger than wave 3. but typically 5 will reach almost the 1-3 trendline but not touch it.
-1 Reply
Wave 4 broke Wave 1

EW Rules
Reply
it's an expanding diagonal. 4 and 1 should overlap (but is not required). wave 5 will be greater than wave 3
the weekly chart shows macd at highest point at the near 50 since 2001 which indicates it is wave 3. wave 5 will be higher than 3 (about 90) and macd will show a divergence. that is when you know 5 is "in"
Reply
We are still going down ... already saw wave 5
Reply
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
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
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out