Expanding ending diagonal (extended 5th wave)
Here's my analysis of HUI, gold bugs index. . In my analysis, wave (1) , (2), (3) and (4) all have 3 wave structure, with wave (4) more complex and time consuming than wave (2). This phenomenon usually points to a 5th wave extension. Another observation is wave (4) overlaps with wave (1), which leads to the possibility of an expanding ending diagonal. Following through this thought process, wave (5) should also be a 3 wave structure and it will usually be 1.618 times the entire move measured from the beginning of wave (1) to the end of wave (3).
HUI has completed the AB wave and is now in the C wave of this extended 5th wave. I have used the end of wave (4) as the starting point for wave (5) and the target price is 1.618 to 2 times the entire move, more inclined towards the latter, around 100 price point.
That's all for now
HUI has completed the AB wave and is now in the C wave of this extended 5th wave. I have used the end of wave (4) as the starting point for wave (5) and the target price is 1.618 to 2 times the entire move, more inclined towards the latter, around 100 price point.
That's all for now
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