over the 3 day weekend gold had a correction and now we are off to the races. above the 885 high and i will think the 680 low was the low for wave 2 and we will not get below that. looking for 150-155 xau. dharma
matt frailey and co give an hour long presentation w/lots of charts on the broad market. their forecast for 09
http://breakpointtra...w.php?nl_id=316
wave 5 unfolding!
Started by
dharma
, Jan 20 2009 11:51 AM
23 replies to this topic
#2
tradesurfer
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Posted 20 January 2009 - 02:40 PM
so once wave 5 is done then that means wave 3 up is done?
it just seems to me more like wave 3 up is starting exactly right NOW. based on increased volumes coming, relative strength of gold stocks and the fact that Gld is right on the edge of making a massive breakout from the down trendline...
in order to valid break of that down trend line we will need to see WIDE and fast price spread....
all of this evidence tells me we are only now just starting wave 3 up.
#3
dougie
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Posted 20 January 2009 - 03:29 PM
wave 5 up or wave 5 up of a c up ? bearish scenarios are alive and well here
though not favoured
#4
diogenes227
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Posted 20 January 2009 - 03:47 PM
wave 5 up or wave 5 up of a c up ? bearish scenarios are alive and well here
though not favoured
Uh, what about the dollar? It's kicking the world's butt.
Isn't it going to take a dollar slaughter to keep the precious metals from getting murdered?
"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).
“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”
"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."
#6
dharma
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Posted 20 January 2009 - 04:09 PM
this will be 1 of 3, the entire wave 3 will be measured in years. dharmaso once wave 5 is done then that means wave 3 up is done?
it just seems to me more like wave 3 up is starting exactly right NOW. based on increased volumes coming, relative strength of gold stocks and the fact that Gld is right on the edge of making a massive breakout from the down trendline...
in order to valid break of that down trend line we will need to see WIDE and fast price spread....
all of this evidence tells me we are only now just starting wave 3 up.
#7
dharma
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Posted 20 January 2009 - 04:12 PM
wave 1 was 226.72 high. 241.78 the bottom of wave 4 dharmahttp://stockcharts.com/h-sc/ui?s=$HUI...amp;a=156460594
wave 4 down overlapping putative 1 up?
#8
dharma
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Posted 21 January 2009 - 12:10 PM
we have retraced 50%of the advance so far in xau/hui. i am looking for this correction to be over by tomorrow. dharma
#9
dougie
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Posted 21 January 2009 - 02:14 PM
sorry DHarma: i was not clear: i meant we are overlapping wave 1 up from JAn 241 lows...
we have retraced 50%of the advance so far in xau/hui. i am looking for this correction to be over by tomorrow. dharma
#10
blustar
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blustar
Posted 22 January 2009 - 09:08 AM
I favor wave 5 of c. Big move down into Feb 13 to GDX 24 area after a top around Jan 28 near 39wave 5 up or wave 5 up of a c up ? bearish scenarios are alive and well here
though not favoured
