My old white count, while technically still valid, looks highly unlikely. I'm swapping to this yellow count where price is a few cents from the 61.8% retrace level at 16.11. I'm counting wave B of (2) as a triangle where the e-wave came up short of the DTL, as shown. There are other interpretations, such as a W-X-Y where this decline is the (c)-wave of Y of (2). Anyway, waiting for an initial indication this correction is complete to project higher targets. Note: Positive MACD divergence presently holding here and on smaller timescales. I'll elaborate more when an indication of a turn is reasonably clear.
Comments
nick.holland78
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nick.holland78
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Trying again...
nick.holland78
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Revised daily count.
nick.holland78
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Should be wrapping up this correction soon. My micro counts have been off, but the big picture is unchanged. Here's my latest micro...
nick.holland78
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Dang, that was meant for the XAUUSD gold chart...
nick.holland78
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Over 16.503 and 16.72 would be early, early indications that silver has turned. Or that my count is off.
nick.holland78
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nick.holland78
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I'm looking for another little iv-v to finish this off. Can go below the 61.8% retrace of course. 76.4% retrace is at 15.11 fwiw.