Jump to content



Photo

emerging wave 3?


  • Please log in to reply
198 replies to this topic

#191 dharma

dharma

    Member

  • Traders-Talk User
  • 7,019 posts

Posted 19 October 2017 - 10:11 AM

@this point miners up a larger % than gold

today 30 years ago was the largest crash in us history % wise . seems like just yesterday

the chinese  communist party meeting is over, i believe they are on the verge of devaluing the yuan , yet again. they have some huge problems that need to get resolved to keep their fragile banking system in tact. we will see how or if they go about this

marc faber is a bigot:https://gracelandupdates.com/wordpress/wp-content/uploads/2017/10/2017oct19mf1.png several companies including sprott, ng , and ivanhoe and others let him go! 

so far this 10yr cycle has not produced a correction in the broad market. but, i think it is setting up

dharma

 a perspective https://www.tradingv...com/x/BsdnZ132/


Edited by dharma, 19 October 2017 - 10:14 AM.


#192 senorBS

senorBS

    Member

  • TT Member+
  • 7,782 posts

Posted 19 October 2017 - 10:14 AM

I am liking the action more as we rally in the miners off early lows, looking at the shorter term wave counts "if bullish" I think we should rally hard here in both gold and miners, we see. BTW Dow has IMO been in blowoff mode, it looks like 5 down basis short term charts, picking a top has been insane and I am not shorting ot involved, but lets see where the potential short term 5 down leads

 

Senor


Edited by senorBS, 19 October 2017 - 10:14 AM.


#193 senorBS

senorBS

    Member

  • TT Member+
  • 7,782 posts

Posted 19 October 2017 - 12:08 PM

exited longs, gonna wait for clearer action

 

Senor



#194 Smithy

Smithy

    Member

  • Traders-Talk User
  • 360 posts

Posted 19 October 2017 - 05:38 PM

A final note on the trade put out here, the low yesterday of spot 1276 was $9 below the target. The second approach based on time requires gold to continue rising from today Thurs; curr. 1290.  Make or break for the intermediate bull. As Senor has observed, the gold shares need to start picking up the pace or their relative weakness will presage a larger decline in gold.



#195 Smithy

Smithy

    Member

  • Traders-Talk User
  • 360 posts

Posted 20 October 2017 - 08:17 AM

Don't like this morning's gold chart much - I'll take a starter long position if gold can cross the neckline.

 

 

mc663c.jpg



#196 Smithy

Smithy

    Member

  • Traders-Talk User
  • 360 posts

Posted 20 October 2017 - 10:42 AM

If spot gold reaches around 1275 we have a RPW (megaphone) which has the same degree of reliability as rH&S. Curr. 1279

 

2uyslf4.jpg


Edited by Smithy, 20 October 2017 - 10:42 AM.


#197 dougie

dougie

    Member

  • Traders-Talk User
  • 5,785 posts

Posted 20 October 2017 - 12:22 PM

USD seems to have a nice impulsive move here might need another correction but...



#198 Smithy

Smithy

    Member

  • Traders-Talk User
  • 360 posts

Posted 20 October 2017 - 12:41 PM

Yeah, the USD index daily iH&S is bad news for the gold bullies. Yet to break the neckline...



#199 dougie

dougie

    Member

  • Traders-Talk User
  • 5,785 posts

Posted 20 October 2017 - 01:52 PM

only during a raging bull does the weekly full stoch turn in this region. The norm is a trip to below 20