Coolgardie gold study, page-6

Ece411, Thankyou, yes, it’s just another perspective.  The Elliot waves have been very sound trend indicator for me, but it’s like any indicator, tool etc., you can use them to get an edge if you can.  I find the Elliot waves are generally reliable for predicting levels to look for in tops, bottoms or reversals but I try to identify accumulation and distribution patterns with volume.  I back up with Fibonacci ratios and volume spread analysis and a few other indicators.  When I first bought PGO at 2.2 cents, it was fundamental research of their assets that got my attention.

Check out VSA principles of a program like Trade Guider, and the relevance of low volume will be apparent.  They argue statistics in the market can be often skewed by fiddles in the market which are not driven by statistics.  I can think of flushing stops, tree shaking, bag holding, up thrusts, the real number of buyers and sellers in the spread with the feeding out of parcels to name a few.  We can then overlay the role of central banks and currency manipulation in world markets.  Its a tough gig at times, but I think the time is right for PGO.

The thing that professionals must do is buy at the low and sell at a higher price, so as they say, “If you can’t beat them, join them”, if the fundamentals are there and the trend in the sector is looking good when you consider your risk and reward.

Sentiment plays a huge role too.  What better place than Hot Copper is there for discussion of all points of view.