26 replies to this topic

[beta]

... thanks Stu, will check out EagleCharts To append my prior post, my GLD:USD weekly chart is based on a logarithmic scale, so the target ratio by year-end is actually closer to 3-3.2 My guess is this takes $GOLD to $1850, and USD to 60. The immediate channel defined by Oct 09 low shows a pullback target ratio of 1.9. Again, my guess would be that this takes us to USD 75, GLD 142.50 and $GOLD 1470 by end of July. Early August will be a great time to re-load the truck.

Edited by beta, 01 May 2011 - 06:23 PM.

[dougie]

think USD bottoms in here call me crazy

[stubaby]

Interesting article from Peter Schiff:

The Institutional Gold Rush

Appears Gold is moving into stronger hands here - fits with our present shakeout.

stubaby

[stubaby]

Given that the US Dollar has finally made a "turn" today coming back into the 'primary' declining wedge (moving above 74 as I type this), having turned above the 'mini' wedge yesterday (charts will update at EOD) - where to now? First important resistance is 74.25 the 'top' of the primary declining wedge and we could get hesistation or even a reversal here, especially if this bottom yesterday was Wave 3 and now in Wave 4. Next up 'take your pick' - if Wave 4 should top-out 74-76, if yesterday was the low of Wave 1 then Wave 2 could take us back towards 78-80 or even 81 (a full retrace of the declining wedge.

http://stockcharts.com/c-sc/sc?s=$USD&p=D&b=5&g=0&i=p96348699875&a=217008704&r=4793.png

http://stockcharts.com/c-sc/sc?s=$USD&p=D&yr=1&mn=2&dy=0&i=p46855448953&a=187539338&r=3152.png

stubaby

[stubaby]

US Dollar retracement targets:
http://stockcharts.com/c-sc/sc?s=$USD&p=D&yr=0&mn=10&dy=15&i=p93635926131&a=215120569&r=8107.png

A test of broken "pink" trendline is possible (77-78)
http://stockcharts.com/c-sc/sc?s=$USD&p=W&st=2004-01-01&en=(today)&i=p80307375644&a=185054179&r=844.png

stubaby

[inamosa]

"A test of broken "pink" trendline is possible (77-78)" I agree. I don't think it will be heading any higher than that. It might take several months but eventually I think the 2008 lows will be taken out.

[dougie]

i think the surprises will be to the upside for a bit. nice charts

[senorBS]

i think the surprises will be to the upside for a bit. nice charts

if a "bit" equals many months at a minimum then I agree

Senor

[dougie]

you long usd amigo?

[inamosa]

Senor, do you think it is headed significantly above 78? Just curious.