[TRX] update

In the backlink I provided the high level model shown below.  I was not sure exactly where we were in blue 5 so the blue path thought that it would end mid channel and the break out whereas the red path was viewing the current location as w3 of blue 5.  In other words, it expected another move up and then one final thrust downward to perhaps 20 cents or even a tad lower.  That is what the red model was indicating.



It seems the red model was the better of the two.  Right after my post, we got a big spike (wave 4) and then 5 more waves down to a final low of 25 cents before turning up sharply.

 


Zooming in, here is the updated count.  The next danger point will be the level of the prior 4th (blue 4).  If this busts through that level I think it will be a good omen for all metals and miners.

By the way, the herd was ready to turn north on this but the catalyst was that someone came in and invested a few million in getting to the next stage of production.  So that means someone with a few million to spare doesn't think TRX will BK and perhaps that is because they expect gold to begin putting in a significant bottom in the not too distant future.

If lowly TRX is catching a quiet but powerful bid, how much longer until the whole industry bottoms for real?