Member
Posted 23 October 2017 - 09:10 AM
Monday morning - the picture looks so bearish for gold I went long around 1273.50 spot.
gold and silver are either completing a wave c of an abc down or are in a 3rd wave with the new lows today - HUGELY important action. I bot a modest trading position in miners with a very tight stop, we see
Senor
Member
Posted 23 October 2017 - 10:49 AM
hadik is bullish
i am waiting to see if the sector can find its footing, if not then a trip back to the 1200 area is in the cards
the cots on the dollar have turned the commercials have scaled back their outsized short position on the dollar. essentially they are now neutral. a dollar rally doesnt mean that the gold sector takes it on the chin. there are times when the dollar and gold rally together. this next rally if its a failure, ie does not make new highs then i think we have a larger decline. right now , i believe we are setting up for a rally, where that takes us is the key
gold imports in sept to turkey were up 21% to 28.52 tons. sept imports to india, are yet to be announced , the monsoons caused flooding in sept so no shopping days and modi slapped a know your customer rule on gold dealers, which caused folks to hold off buying, that rule has since been rescinded.
so looking for a rally , then we see what is in the cards.
dharma
Member
Posted 23 October 2017 - 11:24 AM
hadik is bullish
i am waiting to see if the sector can find its footing, if not then a trip back to the 1200 area is in the cards
the cots on the dollar have turned the commercials have scaled back their outsized short position on the dollar. essentially they are now neutral. a dollar rally doesnt mean that the gold sector takes it on the chin. there are times when the dollar and gold rally together. this next rally if its a failure, ie does not make new highs then i think we have a larger decline. right now , i believe we are setting up for a rally, where that takes us is the key
gold imports in sept to turkey were up 21% to 28.52 tons. sept imports to india, are yet to be announced , the monsoons caused flooding in sept so no shopping days and modi slapped a know your customer rule on gold dealers, which caused folks to hold off buying, that rule has since been rescinded.
so looking for a rally , then we see what is in the cards.
dharma
in GLD the bullish count (if bullish) is 1-2, i/ii so IMO its NO EXCUSES time and my stop is now just above todays intraday low and I will keep raising it as it should be violent to the upside IF and please let me stress IF bullish. That's why I gave the long side another stab this morning and so far so good and as always its just an opinion and DYODD
Senor
Member
Posted 23 October 2017 - 12:09 PM
hadik is bullish
i am waiting to see if the sector can find its footing, if not then a trip back to the 1200 area is in the cards
the cots on the dollar have turned the commercials have scaled back their outsized short position on the dollar. essentially they are now neutral. a dollar rally doesnt mean that the gold sector takes it on the chin. there are times when the dollar and gold rally together. this next rally if its a failure, ie does not make new highs then i think we have a larger decline. right now , i believe we are setting up for a rally, where that takes us is the key
gold imports in sept to turkey were up 21% to 28.52 tons. sept imports to india, are yet to be announced , the monsoons caused flooding in sept so no shopping days and modi slapped a know your customer rule on gold dealers, which caused folks to hold off buying, that rule has since been rescinded.
so looking for a rally , then we see what is in the cards.
dharma
in GLD the bullish count (if bullish) is 1-2, i/ii so IMO its NO EXCUSES time and my stop is now just above todays intraday low and I will keep raising it as it should be violent to the upside IF and please let me stress IF bullish. That's why I gave the long side another stab this morning and so far so good and as always its just an opinion and DYODD
Senor
yes, agree. if this C wave(if that is what it is )is over then we should get some mojo going.to the upside. if the rally is a failure that opens the door to 1200 and maybe 1165 . for now i am bullish posture but its clear we have to make new highs , otherwise more base building. w/that said i see 18 as a pivotal year, it should be strong to the upside at some point during the year. (fractals considered) much like 16 saw the end of a consolidation. we will see how it plays out. no doubt it could happen at any time the debt loads world wide are staggering. the geopolitical tensions world wide are also nearing extremes. in general things are more and more unstable. golds day to shine is rapidly approaching. the infrastructure is also in place a mumbai exchange to go w/dubai and shanghai would be icing on the cake
dharma
Edited by dharma, 23 October 2017 - 12:12 PM.
Member
Posted 23 October 2017 - 04:58 PM
hadik is bullish
i am waiting to see if the sector can find its footing, if not then a trip back to the 1200 area is in the cards
the cots on the dollar have turned the commercials have scaled back their outsized short position on the dollar. essentially they are now neutral. a dollar rally doesnt mean that the gold sector takes it on the chin. there are times when the dollar and gold rally together. this next rally if its a failure, ie does not make new highs then i think we have a larger decline. right now , i believe we are setting up for a rally, where that takes us is the key
gold imports in sept to turkey were up 21% to 28.52 tons. sept imports to india, are yet to be announced , the monsoons caused flooding in sept so no shopping days and modi slapped a know your customer rule on gold dealers, which caused folks to hold off buying, that rule has since been rescinded.
so looking for a rally , then we see what is in the cards.
dharma
in GLD the bullish count (if bullish) is 1-2, i/ii so IMO its NO EXCUSES time and my stop is now just above todays intraday low and I will keep raising it as it should be violent to the upside IF and please let me stress IF bullish. That's why I gave the long side another stab this morning and so far so good and as always its just an opinion and DYODD
Senor
yes, agree. if this C wave(if that is what it is )is over then we should get some mojo going.to the upside. if the rally is a failure that opens the door to 1200 and maybe 1165 . for now i am bullish posture but its clear we have to make new highs , otherwise more base building. w/that said i see 18 as a pivotal year, it should be strong to the upside at some point during the year. (fractals considered) much like 16 saw the end of a consolidation. we will see how it plays out. no doubt it could happen at any time the debt loads world wide are staggering. the geopolitical tensions world wide are also nearing extremes. in general things are more and more unstable. golds day to shine is rapidly approaching. the infrastructure is also in place a mumbai exchange to go w/dubai and shanghai would be icing on the cake
dharma
agree Dharma, 15 and 30 minute gold chart looks like 5 up, we see
Senor
Member
Posted 24 October 2017 - 12:17 AM
gold and silver are either completing a wave c of an abc down or are in a 3rd wave with the new lows today - HUGELY important action. I bot a modest trading position in miners with a very tight stop, we seeMonday morning - the picture looks so bearish for gold I went long around 1273.50 spot.
Senor
Member
Posted 24 October 2017 - 12:18 AM
yes, agree. if this C wave(if that is what it is )is over then we should get some mojo going.to the upside. if the rally is a failure that opens the door to 1200 and maybe 1165 . for now i am bullish posture but its clear we have to make new highs , otherwise more base building. w/that said i see 18 as a pivotal year, it should be strong to the upside at some point during the year. (fractals considered) much like 16 saw the end of a consolidation. we will see how it plays out. no doubt it could happen at any time the debt loads world wide are staggering. the geopolitical tensions world wide are also nearing extremes. in general things are more and more unstable. golds day to shine is rapidly approaching. the infrastructure is also in place a mumbai exchange to go w/dubai and shanghai would be icing on the cake
in GLD the bullish count (if bullish) is 1-2, i/ii so IMO its NO EXCUSES time and my stop is now just above todays intraday low and I will keep raising it as it should be violent to the upside IF and please let me stress IF bullish. That's why I gave the long side another stab this morning and so far so good and as always its just an opinion and DYODDhadik is bullish
i am waiting to see if the sector can find its footing, if not then a trip back to the 1200 area is in the cards
the cots on the dollar have turned the commercials have scaled back their outsized short position on the dollar. essentially they are now neutral. a dollar rally doesnt mean that the gold sector takes it on the chin. there are times when the dollar and gold rally together. this next rally if its a failure, ie does not make new highs then i think we have a larger decline. right now , i believe we are setting up for a rally, where that takes us is the key
gold imports in sept to turkey were up 21% to 28.52 tons. sept imports to india, are yet to be announced , the monsoons caused flooding in sept so no shopping days and modi slapped a know your customer rule on gold dealers, which caused folks to hold off buying, that rule has since been rescinded.
so looking for a rally , then we see what is in the cards.
dharma
Senor
What happened at 12 noon kaboom
dharma
Member
Posted 24 October 2017 - 07:25 AM
gold and silver are either completing a wave c of an abc down or are in a 3rd wave with the new lows today - HUGELY important action. I bot a modest trading position in miners with a very tight stop, we seeMonday morning - the picture looks so bearish for gold I went long around 1273.50 spot.
Senor
Couldn't the c wave be incomplete here
do u mean "c" to the downside? if you do then as I said I think we have 5 up off that low basis 30 min charts in gold and this morning may be ending another short term correction IF the bull count I see is right, should know soon, Tight stops here for me
Senor
Edited by senorBS, 24 October 2017 - 07:25 AM.
Member
Posted 24 October 2017 - 07:44 AM
Retrace currently -72%; where's Elvis?
