"ABCDE happens often on a 4 wave between the .382 and .50 fib level."
Yes it can, but not after a strong move up. The most likely count to fit this pattern is that the point you have labelled (b) is just a mid point in wave 5.
You don't have enough data to provide meaningful analysis.
Diagonals in a bull market have a positive slope.
Vaggitarian
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Lol!
WiseTraderIO
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Mate, is that a joke? you have a long caption and you expect teh gold to fall over the next 2 years and consoldate at lower than today prices for 20 years
High_Altitude_Investing
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@WiseTraderIO, Big picture our last bear cycle was 20 years.
ABCDE waves are common on 4 wave Impulse.
This also aligns with stocks topping out after another 8-year bullish cycle.
WiseTraderIO
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@Dalin_anderson, What I am saying is that you have selected the "Long" classification when you believe that the market will be in a bear market for 20 more years, this is a short prediction..
High_Altitude_Investing
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@WiseTraderIO, I am a long-term investor and I am going long on all these fib levels.
I don't short markets that can also breakout if conditions change.
High_Altitude_Investing
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@WiseTraderIO, I don't expect people to blindly follow me unless they are "dumb money" anyways.
this is my conjecture on the market.
If they go long here they missed my analysis entirely.
Yes it can, but not after a strong move up. The most likely count to fit this pattern is that the point you have labelled (b) is just a mid point in wave 5.
You don't have enough data to provide meaningful analysis.
Diagonals in a bull market have a positive slope.