Replies to post #93139 on Simple's Green Room

[pennies2007]

Possibly but not necessarily. It my cross over short term but it normally occurs in a wave pattern...kind of like a 1-2-3 movement...a series of ripples. That's equivalent to an ABC movement that we see in most Wave 4 corrections. Then it tanks again.

I'll see if I can find a chart with an example for you to look at.

[gitonwithit]

Wave 4 probably be around this 1.0490 2.618 extension. Beginning of it anyways. Don't know how far it will run, the top was .707 so I would figure at most the .50 fib. Judging from the .707 at the top I would suspect the extremes will be some variation of .707 like 1.414, .50, .707, etc.

There is the possibility that we've already seen it (maybe in the orange circle) and that we have ABC retrace for a semi-major wave 2 starting at the 2.618. I doubt it though.

Edit: I forgot to add the tdi market baseline is beloe 30 so look for an increasing baseline that gets above 30 with decreasing price. That should mark the end of wave 5 of the first degree wave 1.