Jump to content



Photo

For You Elliottician's Out There...


  • Please log in to reply
17 replies to this topic

#1 fib_1618

fib_1618

    Member

  • Traders-Talk User
  • 10,144 posts

Posted 22 December 2018 - 09:17 AM

What do you think...pretty much textbook??

 

Fib

 

goldbpi.png


Better to ignore me than abhor me.

“Wise men don't need advice. Fools won't take it” - Benjamin Franklin

 

"Beware of false knowledge; it is more dangerous than ignorance" - George Bernard Shaw

 

Demagogue: A leader who makes use of popular prejudices, false claims and promises in order to gain power.

Technical Watch Subscriptions



 


#2 Smithy

Smithy

    Member

  • Traders-Talk User
  • 2,266 posts

Posted 22 December 2018 - 11:32 AM

Fib, you may be right. Here's another perspective.

 

12-22-18-weekly-gold.jpg
 



#3 dougie

dougie

    Member

  • Traders-Talk User
  • 9,000 posts

Posted 22 December 2018 - 06:08 PM

that sis some pretty clear counting. Down she goes if so.



#4 senorBS

senorBS

    Member

  • TT Member+
  • 10,901 posts

Posted 22 December 2018 - 08:16 PM

Fib, you may be right. Here's another perspective.

 

12-22-18-weekly-gold.jpg
 

now that chart looks like a really nice 5 up worse case IMO up to this point, I think there are different and valid ways to count the chart Fib posted, but not the one above. However there can also be differences in Close only vs bar charts as often overlap for an example does not shown on a line but will on a close on bar. My dos centavos

 

Senor



#5 gannman

gannman

    Member

  • Traders-Talk User
  • 6,948 posts

Posted 23 December 2018 - 06:48 PM

my opinion the bottom is in and once gdx trades about 22 we should 

 

see a strong advance. i am not bearish at all here on gold or gdx 

 

i am very bearish on stocks


feeling mellow with the yellow metal


#6 fib_1618

fib_1618

    Member

  • Traders-Talk User
  • 10,144 posts

Posted 29 December 2018 - 01:04 PM

Continuing this exercise, the above chart was updated for week ending 12/28.

Fib


Better to ignore me than abhor me.

“Wise men don't need advice. Fools won't take it” - Benjamin Franklin

 

"Beware of false knowledge; it is more dangerous than ignorance" - George Bernard Shaw

 

Demagogue: A leader who makes use of popular prejudices, false claims and promises in order to gain power.

Technical Watch Subscriptions



 


#7 Smithy

Smithy

    Member

  • Traders-Talk User
  • 2,266 posts

Posted 29 December 2018 - 01:51 PM

Fib, as I've said you may be right but one flaw in the bearish position is that gold is in a roaring bull market in the other major currencies. My view is that USD priced gold is starting to join in.



#8 senorBS

senorBS

    Member

  • TT Member+
  • 10,901 posts

Posted 30 December 2018 - 10:03 AM

Fib, as I've said you may be right but one flaw in the bearish position is that gold is in a roaring bull market in the other major currencies. My view is that USD priced gold is starting to join in.

I agree that gold is bullish as is silver, one can always "find" a bearish count if they want to, I would not be surprised if we see a pullback near term but that's about it to the downside IMO

 

Senor



#9 fib_1618

fib_1618

    Member

  • Traders-Talk User
  • 10,144 posts

Posted 30 December 2018 - 10:34 AM

All that said, Precious Metals bulls have several problems here that go against the grain of what we've seen in the past.

 

For example, note that the BPI on the chart still hasn't given a buy signal as yet, no less, the precious metals stock A/D lines have not been leading to the upside.

 

Then again, the expectation of a December bottom by other means may be in play here, but may only be temporary given that most of the advance has been "crash driven".

 

I'll be posting an update on the A/D line later this weekend in a separate post to provide better clarity.

 

Fib


Better to ignore me than abhor me.

“Wise men don't need advice. Fools won't take it” - Benjamin Franklin

 

"Beware of false knowledge; it is more dangerous than ignorance" - George Bernard Shaw

 

Demagogue: A leader who makes use of popular prejudices, false claims and promises in order to gain power.

Technical Watch Subscriptions



 


#10 gannman

gannman

    Member

  • Traders-Talk User
  • 6,948 posts

Posted 30 December 2018 - 02:48 PM

the actual elliott bottom in gdx and gld came in nov 30 imo . we will see if that is 

 

true


feeling mellow with the yellow metal