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Tuesday, January 10, 2012

Intraday - Silver needs one more tiny push higher

This appears to be an intra-day fourth wave currently in progress.  As I said in my prior post, I'm already short via a put spread on the SLV.  Still, we'll likely get one more small push higher, probably on the close.  Since the second wave appears to be sideways, the fourth wave will probably be brief and sharp against the trend.
Posted by Waverunner (FractalTrader) at 8:48 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))