Long Term ABC Down 1006
Dollar is going parabolic soon.
Posted 08 March 2017 - 09:40 PM
Long Term ABC Down 1006
Dollar is going parabolic soon.
Posted 08 March 2017 - 11:18 PM
My long term target is near 500.
That's the apex of the triangle forming up the last wave 4 of next lower degree. (1980-2000)
C of 4 ends about 2023-24 or so. Give or take. (Thinking roughly 5-3-5 in years)
Your 'long term' may be shorter.
Posted 09 March 2017 - 12:49 AM
I think the US stock market needs to cave in for gold to have that impetus to go up.
Posted 09 March 2017 - 10:59 AM
All that "divergence" stuff that was going on a couple weeks back has settled...
And once again, the MINERS (GDX, XAU) set the tone, and gold follows it like a little retriever puppy.
Now what I noticed here is the volume is drying up on the pullback in the miners...
XAU and GDX are INSIDE today on lighter volume - that's a neutral.
Overall though, we could see a tradeable bounce set up in something like NUGT... hourly trade...
We need to see the low tested first in GDX - 21.17
Just an idea I am looking at, and of course we always assess the volume on these tests before finalizing an entry and use STOPs...
This is not trading advice - you are responsible for your own trades...
Posted 09 March 2017 - 11:29 AM
The last couple of days the movement in the stocks is not commeasurate with the movement in the metals. The stocks appear to be bottoming in the 1200 area of gold. What makes you think that 1200 or 1183 doesn't hold and we go back up AFTER the Fed mtg? Basically, it's like the anticipation and certainty of the move may have led to the action of the last 10 or so days and that unlike last time, we don't experience the dump after the rates are raised.
Posted 09 March 2017 - 12:02 PM
The time frame.
Posted 10 March 2017 - 02:25 PM
Anybody know why the US dollar is down so much today when eco news were quite good?
Thanks, gis
Posted 10 March 2017 - 03:00 PM
No worries mate... deep pullback on lighter volume...
Sort of forcing it lower to see if there's any sellers left.
If you are looking at the US$ Index.
Looking at the $Yen, net/net it is still up and to the right...
Posted 10 March 2017 - 03:37 PM
Thanks Semi,
gis
Posted 12 March 2017 - 03:24 PM
I though gold would fall a bit deeper to complete the C-wave, but with the development of an EDT, it seems a more shallow wave-e would be in order, perhaps to the ~1006 target as in SemiBizz's post above... twt.
Link to gold weekly chart: https://postimg.org/image/t9idy4gd5/