The Major Upcycle's (Since 5-16-05) Elliot Wave 3

since 10-20-05 for HUI/XAU and since 11-4-05 for NEM was comprised of two minor int term upcycles, with minor int term cycle lows occurring again in late December. I missed it. The 6 day A, B, C correction in mid December was a minor int term downcycle. Once the minor int term downcycle's Elliot Wave B cycle high in mid December was exceeded (confirmed by a 2% follow through minor int term cycle buy signal), that indicated that a new minor int term upcycle was in effect. Elliot Wave is highly useful because it provides the likely cycle structure for both the major and minor int term cycles. Once the 2% follow through minor int term cycle buy signal occurred in late December that confirmed that the major upcycle's Elliot Wave 3 had begun. I wasn't as in tune to the cycle structure that Elliot Wave provides as I should have been. Elliot Wave is a relatively new tool for me, that I began using last year. Also, the NEM Lead Indicator and Fed Credit were both very bullish during this minor int term upcycle.

The fact that the minor int term cycle lows occurred well above the major upcycle's channel bottom was a factor in my "miss," which is where Elliot Wave for the major upcycle comes in.

"Trade the Cycles" is a relatively new system, so I'm still somewhat on a learning curve, and of course one should never stop learning or you'll probably fall back.