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Thursday, August 4, 2011

Updated count for Silver

We are definitely in another impulse wave higher on the minuette time frame (lower).   We appear to be in a wave iv.
I've relabeled my prior chart.  If you look at the minute time frame (upper), assuming this is still all corrective, in order to complete (B) we need a W-X-Y, or alternately (lazily) expressed as ((a))-((b))-((c))-X-((a))-((b))-((c)).  We are now in the final ((c)). I've drawn a line at the old highs, which we should not be able to exceed if this count is accurate.
Posted by Waverunner (FractalTrader) at 8:02 AM

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Notation


Wave DegreeMotiveCorrective
Grand Supercycle((I)) ((II)) ((III)) ((IV)) ((V))((a)) ((b)) ((c))
Supercycle(I) (II) (III) (IV) (V)(a) (b) (c)
CycleI II III IV Va b c
Primary((1)) ((2)) ((3)) ((4)) ((5))((A)) ((B)) ((C))
Intermediate(1) (2) (3) (4) (5)(A) (B) (C)
Minor1 2 3 4 5A B C
Minute((i)) ((ii)) ((iii)) ((iv)) ((v))((a)) ((b)) ((c))
Minuette(i) (ii) (iii) (iv) (v)(a) (b) (c)
Subminuettei ii iii iv va b c
Micro((1)) ((2)) ((3)) ((4)) ((5))((A)) ((B)) ((C))