It would change the small / medium EW count, yes. However, The large count is still in tact. If you consider 19.23 - 27.14 as a larger Wave I of 3(of the Huge Wave V pattern), then the 78.6% retrace (78.6% typical and most often Wave 2 retrace) is 20.92. This is the number that I've been mentioning (in Mondays post again mentioned 20.92) here from time to time as a possible low before we move up hard. So, in the bigger picture, our EW count is still in tact.
Why don’t you just give up on this Fibonacci stuff. Its isn’t working for you or anybody else that uses it.. A longer term chart seems to indicate a bottom on silver around 19.0 and of SLW around 20.0.
Use the KISS principle.
Longer term charts, around 2 yrs, seem to show that a triple bottom has formed. Now wait and see whether or not it violates support.
No, 20.80 intersects the line 17.75 - 19.23 this week, and that line is rising, this is a 2 X 8 Gann line, ie it rises 2 units for every unit of time. If 29.17 was 1, we could be in a complex 2 that would return to 17.75. I guess we watch for that possibility. Likely the next few days will tell. A move above 22.80 for example.
It would still need as good amount of time to play out. Down to 20.50 and then a rally to 25.50 or so then down to 21.50 and then a big break down to 18 or so. I think I read that a symmetrical triangle can break to the upside after a down trend like this, and that would be a reversal pattern. Just not sure if they typically break in the direction of the previous trend or if they are more 50-50%, which then only matters to wait and see which way it breaks.