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Gold/Mining/Energy : Gold Price Monitor
GDXJ 99.85+6.2%Nov 24 4:00 PM EST
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toccodolce
To: pedro_deleon who wrote (116292)9/14/2024 10:19:12 AM
From: #Breeze1 Recommendation   of 116764
 
Pedro, It's been my observation that the fourth wave retraces 38.2% to 50% of the third wave of the same degree. Note Cycle Wave IV that ended at 1,046 was a 50% retracement. Primary Wave (circle) 4 that ended at 1,646 was a 50% retracement. The higher the degree the closer to a 50% retracement I've observed.

In his case if Wave (III) ends at 2,645 the Wave (IV) would around 1,338 the 50% retracement level. Strong support in that area.

Is a 61.8% retracement to 1,030 possible. Anything is possible. I've observed that type of retracement when the second wave of the same degree was a shallow retracement.

But as I previously wrote I'm tracking the sub-wave of Primary Wave (circle) 5 and it my count is correct Primary Wave (circle) 5 will end at a higher price.

PS, haven't seen you post in quite awhile. Still wave counting? Hope all well. Breeze

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