Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Harmonic Trading with The Phoenix -- Ignore unavailable to you. Want to Upgrade?

To: the-phoenix who wrote (758)	6/13/2003 3:12:08 PM
From: Jack of All Trades	Read Replies (1) \| Respond to of 941

Looked at my EWP book and you are correct... May consider dumping my calls and repurchase next friday...

To: the-phoenix who wrote (758)	6/13/2003 10:20:15 PM
From: skinowski	Read Replies (1) \| Respond to of 941

I have been watching this triangle. Agree - if it is for real, XAU should spend some weeks pulling back. The latest rally retraced 78.6% of the decline into 3/27, and lasted 127% of the time that the decline took. The next Fibo time - the 161% - falls on the 4th of July (g/ng), and the lower trendline at that time passes through ~65. The drop would be about 78.6% of the rally into today's high, if it holds. (Not to mention that today the index touched the 70.7% retrace of the decline off the peak one year ago) The projection looks elegant... we'll just have to see if the reality will agree to keep dancing to this Fibonacci music.