Silver is in a big correction Short

Silver/U.S. DollarFXCM

Description

⋅ Sep 25, 2016 3:19 AM

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

⋅ Sep 27, 2016 3:44 PM

Congratulations !!!

Silver is falling sharply tonight.

Cheers.

Comments

l0ckon

⋅ Sep 25, 2016 6:28 PM

I am not an elliotician, but I am already 2 weeks short xag/jpy ;)

greanhoon

⋅ Sep 27, 2016 3:42 PM

nice !!!

halawani

⋅ Sep 25, 2016 6:39 AM

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)

greanhoon

⋅ Sep 25, 2016 6:44 AM

The expanding leading diagonal wave iv can overlap wave i and wave v is the longest wave

Robert Prechter wrothe in his book

Cheers

halawani

⋅ Sep 25, 2016 6:59 AM

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?

greanhoon

⋅ Sep 25, 2016 7:52 AM

Yes, I think so. This scene is my major plan.