Rejected by MA 200 and searching for support MA50. Downtrend is broken and leg D Gartley in the making.
A buy opportunity could be the retest of the broken upper red resistance line Which I expected to break very soon :) .....after creating a small bullflag.in the 3,40ish area.
Wave 4 played out as a double zigzag and not a triangle. Normally a zig zag is a 5-3-5 wave structure and then an X-wave up. After this the same happens again, but I count twice - on the 15 min. chart - a 5-5-5 wave. I'm heavily invested and buy any pullbacks for the wave 5
Not everything in trading is summing up and fit a 100%, but I have tried finding the most likely "bullish patterns" which eventually all become bearish. But until then I see the stock being a long term good investment.
Triangle wave 4 done with a backtest ... I'm long It could be 3,44 before it turns up so it takes the middle of the triangle for a wave E and then up....but it looks like it 3,49 or 3,48 Be aware of that the ABCD is set with the Gartley tool for creating the triangle. In Elliott wave the A should have been placed where B is ... B where C is and so forth. SORRY!...
I'm looking for a gap and go to happen very soon (might already be tomorrow or thursday). Thursday could be the case for it to wait for the SP moving in to minor wave 3 as well. If tomorrow I would expect a gap up to around the 2,80 level or as high as 2,86 and then to retrace to 2,78 level for a possible rest of the gap not to be filled. As to be seen on the 4...
TRX still showing the right bullish move. Now heading for a 3 wave up.
Looking for 5 wave up. Republished due to wave points not shown correct the first time.
I have made the weekly analysis and this time it's on daily. I see a gold miner stock with potential. Is at the bottom of a weekly pennant making a wave 2 down in an ihs bottom. Has retraced 61,8 from wave 1 top and should be ready to go north. Conformation is everything, so holding 2,80 for the next couple of days and then heading north. I'm in. Safe trading gents! BM
This stock seems to be in a major triangle that - looking with EW-eyes - have finished wave D (IV). The nmike Trix-Fisher system showes cat ears and trix is turning up on weekly. At the same time the D-wave has created a bullish Gartley pattern.. has turned and now moving upwards For more info on the stock... Go to: www.tanzanianroyalty.com For more info on...