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Strategies & Market Trends : Classic TA Workplace
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To: Shack who wrote (147733)8/10/2007 4:56:29 PM
From: skinowski  Read Replies (2) of 209892
 
Yes - this is a very appealing count. The breakout failure may in fact be Wave 2 of the next advance. Just for curiosity, on the hourly chart the proposed Wave 1's - both in $HUI and $XAU - are impulsive, and the pullbacks are double zigzags. COT and sentiment appear to be relatively neutral - but that's hardly surprising after such a long boring consolidation.

Agree that there is no need to rush. If this outlook is correct, it is likely to be a long trip.
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