it all just clarified by looking at some comparison charts.
wave 3??!!
#561
Posted 11 July 2017 - 10:52 PM
#562
Posted 12 July 2017 - 01:03 AM
it all just clarified by looking at some comparison charts.
They tried to break down the xau 77 or gdx 21 level three times since Jan and each time has failed, there are momentum and money flow divergences all over the charts.
Edited by Russ, 12 July 2017 - 01:10 AM.
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
#563
Posted 12 July 2017 - 01:58 AM
My only question is where is the volume if this is wave 3
#564
Posted 12 July 2017 - 07:26 AM
Nice Russ
My only question is where is the volume if this is wave 3
I am not sure about a wave 3 but there should be a rally into late July/early august, the shortness of my signal implies gold takes another big plunge into next winter which also shows up on the charts.
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
http://marketvisions.blogspot.com/
#565
Posted 12 July 2017 - 08:08 AM
I think we are headed higher from here to close to 1400 into September. We had the bullish wolfe wave in Silver, the spike low which marks the almost exact symmetrical right shoulder of the head and shoulders bottom.
Then news wise we have the fed saying they are very close to done raising rates and also we have fed chair being replaced next year with probably someone who will print like crazy again. Finally we have the debt ceiling crap hitting the fan big time in September October, maybe they will pull off a clean fix, but maybe not and maybe the usa defaults. Those events occurring at that time given the current structure of the gold price suggests it will sky rocket north into end of this year.
We may have seen the final bottom as of a few days ago......hmmmm
P.S. I think this huge triangle in both the GDX and the SIL silver miners did a FALSE breakdown at first to confuse people and now will probably rally back up to the apex and then blast north. That creates a busted pattern setup. They tried to trick us in the initial bearish break down.
Edited by tradesurfer, 12 July 2017 - 08:09 AM.
#566
Posted 12 July 2017 - 09:11 AM
I think we are headed higher from here to close to 1400 into September. We had the bullish wolfe wave in Silver, the spike low which marks the almost exact symmetrical right shoulder of the head and shoulders bottom.
Then news wise we have the fed saying they are very close to done raising rates and also we have fed chair being replaced next year with probably someone who will print like crazy again. Finally we have the debt ceiling crap hitting the fan big time in September October, maybe they will pull off a clean fix, but maybe not and maybe the usa defaults. Those events occurring at that time given the current structure of the gold price suggests it will sky rocket north into end of this year.
We may have seen the final bottom as of a few days ago......hmmmm
P.S. I think this huge triangle in both the GDX and the SIL silver miners did a FALSE breakdown at first to confuse people and now will probably rally back up to the apex and then blast north. That creates a busted pattern setup. They tried to trick us in the initial bearish break down.
well said amigo and I agree, everyone got sucked into thinking a breakdown in the miners was going to happen and it did not and a muy bueno bullish divergence set up in the Hui and XAU vs the March RSI lows occurred. I continue to favor we are headed at least to 26 in the GDX and perhaps much higher than that, as always one step at a time
Senor
#567
Posted 12 July 2017 - 09:27 AM
Over 120 that would basically say correction is over if it goes straight to 120 fine
But I think we have another drop coming
#568
Posted 12 July 2017 - 09:28 AM
What I would like to see here is another drop in gld to test the lows and then trade
Over 120 that would basically say correction is over if it goes straight to 120 fine
But I think we have another drop coming
I don't think so but who knows
Senor
#569
Posted 12 July 2017 - 04:38 PM
wave 3 action seems unlikely
can we kill this old thread?
#570
Posted 12 July 2017 - 08:25 PM
wave 3 action seems unlikely
can we kill this old thread?
why?