greanhoon
Short

Silver is in a big correction

FX:XAGUSD   Silver/U.S. Dollar
In January 2016, Silver             has begun a big wave rally but every party must come to an end.

For now, September 2016, Silver             has ended the cycle 5 waves up unfold as expanding leading diagonal and going into a big correction after 5 waves up.

IMO             silver             is now in a wave C and expect to see impulsive 5 waves down.

This wave count will invalid, If price goes beyond the high 20.1x.

Cheers.
Comment: Congratulations !!!

Silver is falling sharply tonight.

Cheers.
I am not an elliotician, but I am already 2 weeks short xag/jpy ;)
+1 Reply
nice !!!
Reply
My friend I like your analysis. The big problem here is that Elliott wave principles first rule states that wave (iv) (15.798) can not overlap with wave (i) (15.928) (the bottom of wav 4 can not go below the top of wave 1)
Reply
The expanding leading diagonal wave iv can overlap wave i and wave v is the longest wave

Robert Prechter wrothe in his book

Cheers
Reply
halawani PRO greanhoon
Thanks .. I didn't know that... Now about leg c of b ... do you think that we have one final small leg up (5 of c of b) before we start wave c of 4 or is wave c of b over?
Reply
Yes, I think so. This scene is my major plan.
Reply
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