631 replies to this topic

[Smithy]

Senor, spot gold made a lows 9/28 at 1181 and 10/8 at 1183. I was wondering which you would peg as the wave 2 low. It looks like a toss up to me.

[senorBS]

Senor, spot gold made a lows 9/28 at 1181 and 10/8 at 1183. I was wondering which you would peg as the wave 2 low. It looks like a toss up to me.

My take is larger wave 2 bottomed at 1180 on Sep 18, another deep smaller degree ii bottomed on either Oct 8 or 9 at 1183 area, 

 

Senor

[Smithy]

Thanks Senor

[dharma]

a quick thought. friday gold and the miners opened down worked a bit lower. but then something different happened . there were dip buyers  they then proceeded to buy gold and at the end of the day miners were barely down. ie something is different . 

dharma

[senorBS]

Si, I wrote about the comeback as a "character change" several posts ago, lets see if it continues

 

Senor

[stubaby]

Wave 4 of C of 2 looks complete at this mornings highs - Wave C of 4 could extend, but chances are 50/50 IMHO

 

Note:  a move below 68.72,  then 67.82 on $XAU increase the odds that Wave 4 is complete, FWIW

[dharma]

yes, the market is changing.  whats interesting to me is the 3rd world debt is in dollars. so they need to buy dollars. to pay off their debts. this creates a synthetic short position in the dollar.  the commercials are extremely short the dollar. this is a set up for a down move in the buck.   

stewart thompsons interpretation of the gold market https://gracelandupd...ct15throne1.png

captain e waves count on the broad market https://gracelandupd...ct15spwave1.png

and lastly the saudis are in the thick of ithttps://uk.finance.y...ml?guccounter=1

 

the possibility still exists gold has not finished the C wave i am cautiously bullish here

dharma

[dougie]

Wave 4 of C of 2 looks complete at this mornings highs - Wave C of 4 could extend, but chances are 50/50 IMHO

 

Note:  a move below 68.72,  then 67.82 on $XAU increase the odds that Wave 4 is complete, FWIW

why 67.82 Stu? Top of putative wave 1?

Edited by dougie, 15 October 2018 - 11:32 AM.

[stubaby]

 

Wave 4 of C of 2 looks complete at this mornings highs - Wave C of 4 could extend, but chances are 50/50 IMHO

 

Note:  a move below 68.72,  then 67.82 on $XAU increase the odds that Wave 4 is complete, FWIW

why 67.82 Stu? Top of putative wave 1?

 

Dougie - those are just FIBs off the C Wave used for simplicity only

[dharma]

a note

 thursday- while the dow shed 800pts gold rallied about 30 dollars and on big volume. this to me is a sign that gold is not only well bid , but able to withstand the selloff in stocks . no way to be positive but its an indication that the market could very well have turned. the volume on thursday was larger than any time during the decline.  nothing is 100% certain in this biz. BUT its a really good indication

dharma