1st time posting a chart here so please be aware that the wave count is not time dependent whatsoever. These wave counts are just a guide of levels that it should hit working with Fibonacci principles and are based / pllotted according to the recent W1 and W2.
The weekly chart below shows we are currently working on major W(iii) at $0.93. How it gets there depends on how the waves form and what actual levels they achieve along the way, then dictates the following waves there on. In modelling of waves it is obviously a fluid thing that gets re-visited regularly to update on how the market has performed on the individual waves to reach the targets. This current wave should end at approximately to $.46 region for W1. Once the retracement to W2 us in place, we then get a better idea of where the following W3, W4 and W5 will reach. Of course, some waves can be shallower than normal or extend a lot further dependent on news that's released.
Drilling down further to the 1D chart shown below you will see that we are aiming for sub w3 before it pulls back for w4 & then continues on to w5 at approximately the $.46 Target, completing W1. Note on the weekly chart shown above the stochastic is riding very high, likewise on the 1D chart below. I would hope to see a pull back to approximately $0.33 in a healthy retrace for a subway for w(iv) on this 1d chart, before then pushing up for w(v) of w3 (approx $0.42). This would allow the 1D & 3D stochastic's to reset before it puts its next wave up. We may be seeing this now, however it usually happens once W3 at $0.42 is complete which would actually make more sense. W4 is usually a longer more protracted wave before it then starts its final wave up for W5. I would definitely like to see the 1D & 3D stochastics reset before I considered adding to my position.
After reading comments, it seems that the consensus is that once FID is achieved, the price will then slump considerably due to cost implementation of constructing the mine. Am I right with assuming this?
Of course, as time plays out, the charts and Fibonacci levels will alter accordingly.
Best of luck all.
The weekly chart below shows we are currently working on major W(iii) at $0.93. How it gets there depends on how the waves form and what actual levels they achieve along the way, then dictates the following waves there on. In modelling of waves it is obviously a fluid thing that gets re-visited regularly to update on how the market has performed on the individual waves to reach the targets. This current wave should end at approximately to $.46 region for W1. Once the retracement to W2 us in place, we then get a better idea of where the following W3, W4 and W5 will reach. Of course, some waves can be shallower than normal or extend a lot further dependent on news that's released.
Drilling down further to the 1D chart shown below you will see that we are aiming for sub w3 before it pulls back for w4 & then continues on to w5 at approximately the $.46 Target, completing W1. Note on the weekly chart shown above the stochastic is riding very high, likewise on the 1D chart below. I would hope to see a pull back to approximately $0.33 in a healthy retrace for a subway for w(iv) on this 1d chart, before then pushing up for w(v) of w3 (approx $0.42). This would allow the 1D & 3D stochastic's to reset before it puts its next wave up. We may be seeing this now, however it usually happens once W3 at $0.42 is complete which would actually make more sense. W4 is usually a longer more protracted wave before it then starts its final wave up for W5. I would definitely like to see the 1D & 3D stochastics reset before I considered adding to my position.
After reading comments, it seems that the consensus is that once FID is achieved, the price will then slump considerably due to cost implementation of constructing the mine. Am I right with assuming this?
Of course, as time plays out, the charts and Fibonacci levels will alter accordingly.
Best of luck all.
