195 replies to this topic

[senorBS]

the past 3 days both GDX and GDXJ have been holding at the area of
their .618 retracements of the Dec rally, that being 21.30 and 33.35

Senor

muy interesting with these two ETF's closing basically right at their .618 Fibos!

.

Senor

maybe we need one deeper fibo level for a very prounounced and scary wave 2

at some point if they are wave "2s" you don't want such deep retracements, IF that is even what this is

Senor

[dougie]

but overall hard to be excited about the miners here. we hit failing resistance this year and backed off of that. if we take that out, sure. Dharma: you seem to feel that wont allow for reasonable stops but i cant see that

[gannman]

here is my take on the gdx we are doing an abc i think 

 

the a wave started on the 8 and continued down into feb 22 at 12

 

the b wave continued up into the 23 and ended at 10 am

 

since then it has been c 

 

i think 3 of c ended on mar 3 at 21.57 and we bounced into a 4  which completed at 22.57  to complete the 4

 

so this possibly is 5 of c it is one possible count it could be wrong of course but an attempt at counting this thing

[gannman]

as far as gld goes i have the a wave starting on the 27 going down into the 3

 

the b wave went up into the 3 at 2 40 pm and since then i believe we are 

 

in the c of an abc . again just my take 

[tradesurfer]

My current monthly view on Gold

 

https://www.tradingv...d-to-test-1000/

[senorBS]

added some GDX pre-market at 21.32, now about 18% long, trading positions with reasonable stops, as always DYODD

Senor

[dharma]

ta is not an exact science!

day 8 down in a row on gold . pressing pressing.  fitting in w/ganns 7-10 rule. patience grasshopper. 15th less than a week away. did some nibbling on the close. its when the bank algo traders square up their positions.  1198 end of the last price cycle. should provide good support , but its not a brick wall.  still have a fair amount of cash. may decide to wait till fed day.   miners firm again.   

dharma

[senorBS]

ta is not an exact science!
day 8 down in a row on gold . pressing pressing.  fitting in w/ganns 7-10 rule. patience grasshopper. 15th less than a week away. did some nibbling on the close. its when the bank algo traders square up their positions.  1198 end of the last price cycle. should provide good support , but its not a brick wall.  still have a fair amount of cash. may decide to wait till fed day.   miners firm again.   
dharma

yeah, miners have shown a firmer tone last 2-3 days right at the area of key GDX and GDXJ .618 Fibo retracements, technicals
very oversold here as well. Also HUI/GOLD ratio looks to be trying to put in a daily bottom at .1500-.1520 area, IMO worth a modest long position here.

Senor

[jshaef1]

See 200 day moving average.

 

http://stockcharts.c...r=1488977068925

[dougie]

See 200 day moving average.
 
http://stockcharts.c...r=1488977068925

Do you find MAs of these ratios helpful?