Direxion Daily Junior Gold Miners Index Bull 2X SharesArca
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So we bottomed at $11.37. I was thinking somewhere between the $11.50 - $11.30 range. So that worked out well. But it appears to me that we only completed wave three down and still have to do wave 4 and 5. So wave 4 should top a little over the $14 dollar mark before dropping to a much lower low...(too early to call but maybe in the mid $8 range).
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That bounce was a little more than I expected and therefore I think we have a A,B C playing out. GL
@Matce, not sure. Might make a larger a,b,C pattern first before the drop. More infor needed.
jonnyboy1976
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Hey just wanted to say thank you for the work you put into these. Its very much appreciated.!
SalN
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@jonnyboy1976, thanks I try my best. Can’t always be right but at least it’s an idea to consider
Matce
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so you thinking retest of 12.9 tomorrow and up to 15?
SalN
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@Matce, Yes...the 1st little wave 2 was right at the .618% so I am guessing that the wave 4 will stop at the .38% which happens to be at about the MA ($13.07 to be a little more precise) but in that area...
SalN
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@Matce, $15 if we are lucky. The .618% larger retracement is at the $14.67 to $14.80 zone