Monday, December 14, 2015

[GLNCY] update

At the backlink I provided the model below.


The orange verticals on the model above were meant to show the length of wave 3 which should thus be a limit for wave 5 if my count was correct.  Why?  Because my count said wave 1 was longer than 3.  If 5 was also longer than 3 then 3 would be the shortest and that is not allowed ergo I would know that my count was wrong.  As you can see from actual below, the final wave was careful not to go lower than $2.27 (at least not so far) so my model is intact.

This has to reverse upward almost immediately or the model will bust.  Set your stops just below the prior low.


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