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On the night of November 3, the reversal day, I reviewed my time, price and pattern analysis for indications of another swing to higher prices. The market was very strong and might be unfolding in an Elliott five-wave impulse pattern. If so, new highs are to come if today's high was, indeed, the termination of this swing. There is too much evidence that the platinum market is at or very near the termination of the correction from the June-September bear cycle.

My Gann, Elliott and Fibonacci analysis worked in textbook fashion, and I sat with a very substantial profit. I decide the weight of the evidence indicated an important top and that I would get out near the open the next day.

I closed out my long position the next day, November 4, at $571 near the open. This left me with an $82 ($4,100 per contract) profit and confirmation that my Gann, Elliott and Fibonacci time, price and pattern analysis unfolded in a textbook manner for a substantial profit at minimum exposure and risk.

Once price closed below the 1?4 support angle followed by a close below the 1?2 support angle, I felt vindicated by my decision to take profits and get out near the high. However, the market was determined, as always, to deflate my enlarged ego a notch or two by immediately rallying back up above the 1?2 angle and rapidly exceeding the prior highs. The move to new highs confirmed that the platinum market was going to unfold into an Elliott five-wave impulse pattern. I calculated the time-and-price objectives that would indicate the completion of the Wave 5 pattern and a point to go short.

The next significant time objective fell on December 6. The June 2 high to September 26 low equaled 116 calendar days. 62% ? 116 = 72. September 26 plus 72 calendar days falls on December 7. I was looking for indications of a change in trend within one week of December 7.