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Silver Wheaton Corp. Message Board

  • cowboyinill cowboyinill Feb 13, 2014 10:36 AM Flag

    What if

    Sharpie, I've been thinking about this for a few months. Tell me what you think. What if this recent move up is part of a large ABC correction, and we still need to complete the Huge Wave 5 down yet? I don't know, just postulating. This move up has felt unusual and missed (ran over) a few of my fib chart price points which make it feel like a corrective wave (ABC).

    On a side note, if that move yesterday from 24.59 - 23.58 this morning is a Wave 1 down, then we have hit Wave 2 up at 24.45 (chart says 24.37) and we could really be in for a big move down to 21.94 for starters and eventually complete the Wave 5 at 20.30. Again, just postulating some thoughts. Anyone else?

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    • Wow, CB, lots to think about. Correction don't sound right unless you are thinking 5 waves down from 29.17 and this is a Wave II. That would be way sub 17.75, maybe $14 or $15. I explored that once and gave up on the idea, not ready to take that up again. 3 waves down from 29.17 with 19.23 = A and 24.59 = B would yield a C of around 16.25 . . . that rules out a retrace from 29.17 ! I will stay with the idea that this is the first wave of a large scale Wave threee off the bottom at 17.75. It did raise a couple targets for this wave up. The 78.6 and 87.5 % of the run 17.75 to 29.17 = 26.70 and 27.75 . . . Will do some research on this idea. . . . . .. 20.30 seems too low, still like the numbers above 21.32 . . . My eye and Gann chart like 27.75 !!!!

18.98+0.18(+0.96%)May 5 4:01 PMEDT