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Sounds about right. I am FOMO brigade and I grabbed some more...

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greedisgood

138 Posts.

3

18/05/21

16:23

Post #: 53254633
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Originally posted by Darkstone: ↑

I am just wondering that myself, at the moment. I was using the 23% extension based on the Wave 5 to expected Wave A shape, which on the new low took us to 373 to 383, but looking at the chart again, if we get a close around 368 today, its hard to see how, even with a red candle tomorrow it wouldn't peak at 380+, and one more day should push us well over that target. We haven't had the FOMO brigade come in yet. This thing hasn't moved off 960 (+/-) in the queue all day since the bounce. I am now thinking it might go for the 38% extension, which is still well below the peak and would be 399. So 390+ on that basis would not be unreasonable. I need to do these calculations on ORE because ORE actually hit the correct retrace fib today, while GXY was 3c too high at 329, so I am thinking the problem was the GXY premium which seems to be between 3 and 6c at the moment. That means that whatever I get for ORE + 3 to 6c should be the target for GXY. Lets see how it closes today and I'll come back with my guess, but 373 is looking ridiculously low at the moment.

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Sounds about right. I am FOMO brigade and I grabbed some more late.

GXY Price at posting: $3.61 Sentiment: Buy Disclosure: Held
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