Hi Albaman, I'm just a novice with EW, it's as much a journey of...

Hi Albaman, I'm just a novice with EW, it's as much a journey of discovery for me.
the break of 6.4 confirmed to me the scale of the retrace was greater than I had been originally expecting, then the break of 4.7 also confirmed a minor count I was unsure of; mind you I thought it would be high 3's not low 3's
there cant be many DT's left on board for sure, but no doubt they'll re-enter when they get their confirmations, that's just the nature of the market, you'll never be rid of short term traders unless the dynamic is changed such as a sizeable stamp duty on transactions...not wishing for that...just giving an example.
anyway it looks like its doing one of it's characteristic long winded mind numbing consolidations I have an order in at 3.1, but might move it to 3.2, must say I thought today would at least get to 3.8 if not 4c to complete wave D i suspect if we get an extension waves G & I will be slightly above E & the range top & bottom will triangulate in a long slightly narrowing range. TI misfire seems to have been largely priced in from quite a while back, hopefully the Western anomoly can come up trumps, it's not dead yet, but naturally dissapointing.
It sure is like chasing the end of the rainbow, every quarter we keep having to say it will have turned by the next quarter & I'm sure even some of the LT holders are running out of patience. Gold to my mind hasnt broken out of it's consolidation yet which keeps the pressure on us, a completion of that trend will certainly be an adequate excuse for a rerating once we start seeing higher lows. it will come sooner or later.
Seems to me we are near completely reliant on the POG to make us rich, we just seem to be unable to get the cashflow going at current price, & the guidance forecasts are not helpful one little bit, they are being made completely meaningless by being regularly nowhere close to actuals. The savings they are making are pretty good, though we need more than 1 to 2 million P/A to get profitability in order, hence my thoughts on us being heavily at the mercy of POG.