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emerging wave 3


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#601 senorBS

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Posted 13 March 2018 - 07:28 AM

Exited all longs pre-market as I think gold ended an abc rally last night near 1325 and we look to have a short term 5 down off that high, now a trader only as if my count is correct we may be going to new decline low toward 1300 or lower, GDXJ may have a bearish contracting from Feb 9 bottom at 29.88 and may need need a thrust below that low. we see

 

Senor



#602 gannman

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Posted 13 March 2018 - 08:49 AM

i like ssrm gg rgld and nem here fwiw .  looking at the miners in general 

 

some daily macds bottomed early feb and have made higher lows 

 

to me it is a matter of time  i  dont think too much longer before 

 

we have a legitimate breakout  for me that means gdxj at 34 then 37 very quickly 

 

would say we are in wave 3 but the sector does not look bad to me fwiw


feeling mellow with the yellow metal


#603 Smithy

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Posted 13 March 2018 - 09:03 AM

post deleted


Edited by Smithy, 13 March 2018 - 09:12 AM.


#604 dharma

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Posted 13 March 2018 - 09:57 AM

i have the bradley on the 20th . not short term sighted. i have cycles turning up around  w/the equinox. fed meeting will keep a damper on the metals until after the meeting. the hikes have fueled gold. the big moves come after the summer. i do see gold having a big move this year.  not short term oriented!!!

i remember kwave from my time at the stool way back when the internet started.  there were great traders back in the day. kwave is one of the very best. 

dharma

kwave good to see you and have you posting!



#605 K Wave

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Posted 13 March 2018 - 12:35 PM

Exited all longs pre-market as I think gold ended an abc rally last night near 1325 and we look to have a short term 5 down off that high, now a trader only as if my count is correct we may be going to new decline low toward 1300 or lower, GDXJ may have a bearish contracting from Feb 9 bottom at 29.88 and may need need a thrust below that low. we see

 

Senor

Thus far, the launch effort not very powerful....IF GC can't climb out over 1330 within the next few hours, you could be right.

An hourly close back under 1325 might be first sign bulls just don't have the juice just yet....

 

If we do get back over 1330, then turn upside is probably in place....



#606 gannman

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Posted 13 March 2018 - 01:16 PM

been watching what is going on in england with the poisoning of the two spies

 

it has the potential to turn into a real [bleeeep] show.  will it i  dont know  


feeling mellow with the yellow metal


#607 senorBS

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Posted 13 March 2018 - 02:00 PM

one big reason I exited miner longs this morning was that I think NYSE and Dow likely ended large corrective rallies from 5 down declines into Feb 9 lows, we could now see a hellacious wave C or 3 down below that Feb 9 low and it may take miners with it somewhat, perhaps just enough to take out the GDXJ below 29.88 Feb 9 low - we "might" have ended a contracting tri in GDXJ today (wave "e") from that low. However noting is high confidence in the miners IMO

 

Senor



#608 gannman

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Posted 13 March 2018 - 02:09 PM

fwiw i  think a bottom may be in around the equinox.  


feeling mellow with the yellow metal


#609 gannman

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Posted 13 March 2018 - 02:23 PM

and if you look at the chart of aem off of the jan 25 top

 

it is very clear we are in wave iv here with a wave v down to come

 

i am pretty sure that will end this wave 2 correction and we can start a wave 3 

 

up


feeling mellow with the yellow metal


#610 dharma

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Posted 14 March 2018 - 10:09 AM

the sector is still being leaned on heavily .miners are still under a weight. not sure if we need another trip below 1307 or not. if C is finished or not.  for gann the 1st day of the year is the equinox.   so i do think , the rally begins in that time frame. so more patience is required for the market to tip its hand.  i am expecting 1370 to be in the rear view mirror once the rally gets started. i expect more pressure on the dollar

dharma


Edited by dharma, 14 March 2018 - 10:10 AM.