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BMX - BeMax Resources

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Bobby said:
Hullo Rich,

Looking good so far today, at what date did you start your wave count ?

Regards Bob.
Click to expand...

Hi Bob,
Here's some chartwork, I'm still learning the basics of EW so it's probably wrong, a bit messy but shows my counts.
 

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Hi again Rich,

I like the look of your RED count, that being the case yesterdays close may be the pivot point of the start of the fifth wave !

As I still hold them my bias is obvious .

Go the fifth wave .

Cheers Bob.
 
Bobby said:
Hi again Rich,

I like the look of your RED count, that being the case yesterdays close may be the pivot point of the start of the fifth wave !

As I still hold them my bias is obvious .

Go the fifth wave .

Cheers Bob.
Click to expand...

lol Bob, how did I know you'd go for the red one!!??

That last candle is actually intraday today so it's still early days, need buying volume too, wont be surprised to see it go lower, this last week or two certainly has impulsive characteristics about it. What annoys me is that the w5 is extended, typically the w3 should be the longest (but never the shortest), would have preferred deeper intermediate w2 retracements too to get an idealised EW count, but we must make do with what we have.

btw, for those new to EW, the reason for the red line is because an unbreakable rule in EW is that the high of w1 cannot be touched/overlapped by the end of the same degree w4.

I am just a novice in this type of thing so feel free to correct me.
 

Now is the time to start looking at this stock. (Look, not buy)
We're in a weekly wave-4 retracement.

1. wave-a/wave-c equidistant at $0.29
2. 0.382% retracement at $0.3005
3. 0.50% retracement at $0.265
4. Game over on a break of $0.21


Watch the volume though. That is the clue. Some capitulation on Tuesday and Thursday this week. Funny old game.
 

Thanks Nick, I've tried to guess your count here, the blue and red lines are the figures mentioned above. If I've got your count correctly labelled then it's much simpler than my messy attempts previously. I must start with the 'big picture' in future to iron out the noise.
 

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I hope I'm not giving BMX the kiss of death by saying this but BMX has seen some larger parcels changing hands, has gone sideways rather than down as well these past few weeks, all happening near key levels, so we may just be seeing the start of a minor structure up, too early to call the new impulsive wave up imo but worth being watchful now as Nick suggested earlier on.
 
Yes Rich, it's held up well.
I was planning to buy more at 28 or 29c but there is just too much support.
You were pretty right Chicken.
 
I know this mob , they are strong & will get stronger, I hold heaps still, this is a good stock

Bob.
 
Bobby said:
I know this mob , they are strong & will get stronger, I hold heaps still, this is a good stock

Bob.
Click to expand...

We may well meander in a complex Wave 4 correction til the next 'share price catalyst' as the brokers call it- resource upgrade in a few months?? This 3 wave move down maybe a larger Wave A- the good news is that it's normally the low, a bounce back up into a B and then down to form C and then we're away. However, the EW 'rule of alternation' (or whatever) suggests this correction should be clean as the wave 2 was messy. All guess work, best to call it as we see it.....
 
Bobby said:
I know this mob , they are strong & will get stronger, I hold heaps still, this is a good stock

Bob.
Click to expand...

Bobby,

How are you going?

Are you still attached to this stock? Don`t trust it, just yourself.
 

Rich, I think the C minor wave dip exits now (check your charts ) of the EW 3 major wave.
If that being the case = Wow, what a time to get more.

Your thoughts please?

Bob.
 
Bobby said:
Rich, I think the C minor wave dip exits now (check your charts ) of the EW 3 major wave.
If that being the case = Wow, what a time to get more.

Your thoughts please?

Bob.
Click to expand...

Sorry, I don't follow Bob, are you saying that the current 3 wave abc structure is complete, as mentioned in the first scenario (see post #266 for the corrective structure envisaged)- hence time to consider a buy. My alternate view is that these 3 waves have just completed a larger wave A. Happy to go with the more bullish proposition you favour, if your prefer. Let's see what the market says as all our analysis may mean nothing- we have little influence over this imo, just got to ride what's thrown at us.
 
Snake Pliskin said:
Bobby,

How are you going?

Are you still attached to this stock? Don`t trust it, just yourself.
Click to expand...

Hey Snake good to hear from you, hope you're entertaining the Jap chicks mate.
I had a licenced tourist joint a couple of years ago, gee can they eat & drink! One young lady who was about 48KG and 4"8 tall that stayed overnight impressed me with her consumption

As for BMX, this is a rock solid stock with a very long play = 20 years production.

Bob.
 

Rich on your chart post #266 I see after your wave 111 top, the drop to A then back up to B then down to C ( I think C has bottomed ) now about to change to wave 4.

I know it looks simplistic, but as you say let the market decide.

Bob.
 

Bob,

Yes they eat, drink and most of them talk **** all night. Some are real good though and are good friends.

20 years production equates to 20 years of demand? High demand? If so, yes.

Have fun.
Snake
 
Soon as I give up they get there!
29.5c.
Will they go lower?
 
roger_leong said:
0.26 and hanging... hopefully it won't go anywhere lower...
Click to expand...

If this does go lower and takes out the w1 high then it's time for the alternative count which'll make this a major wave 2 decline imo. See the previous charts, still early days so best to follow Nick's count until proven wrong.
 
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