Member
Posted 23 April 2017 - 08:25 PM
interesting watching this dollar down maybe it has put in a major top metals steep selloff but coming back. personally
i am very bullish here i dont think we drop that much lower especially in the hui we will see this week this is what
makes it interesting. i find in trading you must be true to yourself i have no gurus i follow really one thing the wave count
and my interpretation of the wave count is very bullish for metals here . anyway should be a fascinating week good trading
to all
Member
Posted 23 April 2017 - 08:44 PM
yes, i read everyone that seems astute, and i come to my own conclusions.
that downtrend line, and there are a few ways to draw it , remains overhead, it would not
surprise me to back off into the bradley on may 5th before a surge to take out
i do see gold going on a run very soon. w/some significant price appreciation
dharma
Member
Posted 24 April 2017 - 01:26 PM
overnight , le pen taking 2nd embolden the banksters and they sold
i have no idea who will win the runoff
but the rumor will be sold and the news bought.
i want to see if 1245 gets tested if not it tells you gold is very strong
the indian festival buying is over for now. so while they bought heavily coupled w/the geopolitical drama
pushed gold up to the downtrend line
the big item for me is money velocity is still in a down trend, we need that to reverse to get the bull going
i think it happens , fairly soon
until then , just minor moves.
dharma
Member
Posted 24 April 2017 - 05:35 PM
like dharma says this thing can stretch into next week imho
Member
Posted 24 April 2017 - 11:47 PM
expecting a rally in the hui up to about 207 fwiw
Tim
Posted 25 April 2017 - 05:05 AM
My cycles look the same, last I said it did look like a week down to test breakout but it now can
be one more week or up to three at the most.
The high is in 9-10 weeks sharp W4 drop and high in 20 weeks I would
attempt to trade out at 10 weeks for W4 drop.
"marxism-lennonism-communism always fails and never worked, because I know
some of them, and they don't work" M.Jordan
Member
Posted 25 April 2017 - 08:11 AM
High in 9-10 weeks puts it at mid June?
Member
Posted 25 April 2017 - 10:07 AM
Member
Posted 25 April 2017 - 10:11 AM
Bad chart action here probably in the middle of a 3rd wave down I will watch
Keeping my eye on the metal itself. Below 1235 and it's back to bad times.
Member
Posted 25 April 2017 - 10:22 AM
i like to use seasonal charts as my guide and it has been effective. http://www.seasonalc...ssics_gold.html in essence they show , imo, demand from india and china. w/the festival buying being over for now. there are no fundamental catalysts. so the market takes a breather.
i have taken gdxj off my watch screen, they constructed it poorly, by their own admission , so what does it reflect. that is something i accept and move on. 1261 is the next support and 1245 is my target. 1229 and the 1220zone are massive support . i dont see this market in trouble here. so far it is a quite normal correction. which is now very oversold. its good the fear barometer is rising and shades of 11 -15are remembered. in spite of the yells and screams . the market is on more firm footing than it was in that time period. i believe that rising rates will help turn money velocity to trending upwards. the hikes so far have not produced that . but , i think they will .rising money velocity is a key to the bull. its a sign. i lightened up yesterday and am now waiting. that dsi at 90 was the signal. complacency kills
now we wait. oversold and waiting for the signal
dharma
