23 replies to this topic

[senorBS]

Senor; assuming you mean 1191 from October http://schrts.co/WoYZD8??

 

The ending diagonal triangle, or wedge as many call it, is a narrowing price move composed of two converging trendlines highlighting a wave 5 (many times) extension pattern. The chart to the right shows the ideal example. The ending diagonal is a special type of motive wave that occurs primarily in the wave 5 position when price has moved too far and too fast. I like to think of it as a rising or falling consolidation. Some ending diagonal triangles appear in the C wave of anABC correction, but that configuration is rare. In all cases, the ending diagonal terminates the move of larger patterns. 

S,i the drop from 1191 to 1045 "could be" wave A of a final large 3-step ABC leg down to end a very large diagonal wave 5 of C to possibly end the entire 4 yr correction from 1921. I give it 40% odds vs 60% that a final low "might" be in place, just my opinion. If we now see a wave B up it would likely retrace 50--62& of that possible wave A decline.

 

My BS

 

Senor

[Russ]

Senor, Given your outlook above, then what would be your final low price for Gold and when?

 

Russ

[senorBS]

Senor, Given your outlook above, then what would be your final low price for Gold and when?

 

Russ

first of all I favor the lows could be in place, but maybe another $50 or so below the recent low depending upon how much of a retrace we might get

[tria]

Pent up demand from the newly arrived Gold Bugs should keep the bulls happy in the very short term.

After that I have some mental reservations, however. I may have something more to say in about 3 tds.

 

el-tria

[tria]

Here is my gold chart, should be good potential to bounce. the best low is the ellipse,

about 20+ week, I hope it is a higher low.

 

http://smg.photobuck...y5ibpx.png.html

AChartist please excuse my ignorance, and I have been wanting to ask this many times in the past,

but what do the numbers on the X-axis represent?

Where are we now in the X-axis, are you using Fourier series to arrive at your results?

Edited by tria, 06 December 2015 - 06:08 PM.

[Russ]

 

Senor, Given your outlook above, then what would be your final low price for Gold and when?

 

Russ

first of all I favor the lows could be in place, but maybe another $50 or so below the recent low depending upon how much of a retrace we might get

 

Ok, I think gold will go down to around 850 by next spring.

[senorBS]

 

 

Senor, Given your outlook above, then what would be your final low price for Gold and when?

 

Russ

first of all I favor the lows could be in place, but maybe another $50 or so below the recent low depending upon how much of a retrace we might get

 

Ok, I think gold will go down to around 850 by next spring.

 

Hey as we all know anything is possible, gold $850 to me seems very unlikely but it's only best guesses

 

Senor

[Russ]

 

 

 

Senor, Given your outlook above, then what would be your final low price for Gold and when?

 

Russ

first of all I favor the lows could be in place, but maybe another $50 or so below the recent low depending upon how much of a retrace we might get

 

Ok, I think gold will go down to around 850 by next spring.

 

Hey as we all know anything is possible, gold $850 to me seems very unlikely but it's only best guesses

 

Senor

 

The chart logic is expressed in the chart below, the 1980 high should act as a magnet,  you have probably seen this chart of mine before but in case you did not here it is....

[tria]

Having sold NUGT and JNUG last Friday at about 14% higher, I bought  NUGT (only) at the pre-opening. I do not think GDX will fall much below $14.00 and if so should not stay therefor long

 

My amateur EW counting suggest the correction may be over.

I was expecting strong to stable price early in the week to sell more PMs longs on strength.

The opposite is occuring and hence will do the opposite as well and buy weakness instead.

 

el-tria

 

[tria]

Gold has retraced about 50% of its recent rally, I should add.