i will go with russ here i think we could very well rally into july august time frame
with of course some pullbacks along the way
wave 3?
Started by
dharma
, Mar 13 2017 03:12 PM
405 replies to this topic
#51
gannman
-
- Traders-Talk User
- 6,948 posts
Member
Posted 16 March 2017 - 01:54 PM
feeling mellow with the yellow metal
#52
dharma
-
- Traders-Talk User
- 9,624 posts
Member
Posted 16 March 2017 - 02:12 PM
gann guy http://www.ganngloba...2e574bdcee0d12d
sure anything is possible. i will let the market talk to me. the last thing it said was yesterday. today looks corrective and constructive.
market not giving much ground
after a big advance yesterday. lets see what happens. i like the uneasiness here. and the fact there is no bull cheerleading.
and there is lots of skepticism
dharma
#53
CLK
-
- Traders-Talk User
- 10,787 posts
Member
Posted 16 March 2017 - 02:56 PM
I'm out. Too much risk here for me.
#54
senorBS
-
- TT Member+
- 10,967 posts
Member
Posted 16 March 2017 - 03:20 PM
I'm out. Too much risk here for me.
as a "trader" for now I also see no reason to be in, could be a wave 4 underway or an abc up done, relax and reload for this hombre
Senor
#55
AChartist
-
- Traders-Talk User
- 5,800 posts
Tim
Posted 16 March 2017 - 05:27 PM
daily gold cycle looks good directly for 5 then possibly 11 days.
"marxism-lennonism-communism always fails and never worked, because I know
some of them, and they don't work" M.Jordan
#56
AChartist
-
- Traders-Talk User
- 5,800 posts
Tim
Posted 16 March 2017 - 05:27 PM
daily gold cycle looks good directly for 5 then possibly 11 days.
"marxism-lennonism-communism always fails and never worked, because I know
some of them, and they don't work" M.Jordan
#57
tradesurfer
-
- Traders-Talk User
- 2,944 posts
Member
Posted 16 March 2017 - 11:51 PM
I can't tell if this was short covering only in gold recently.
I am totally confused.
I guess the bottom line is that gold price must absolutely hold 1122 which is the .786 retracement level. This is about 100 from where we currently are.
If oil continues to break down from here, not exactly a good sign for gold IMO.
#58
CLK
-
- Traders-Talk User
- 10,787 posts
Member
Posted 17 March 2017 - 10:04 AM
Just like I thought. These big moves on news usually come all the way back.
Edited by CLK, 17 March 2017 - 10:05 AM.
#59
senorBS
-
- TT Member+
- 10,967 posts
Member
Posted 17 March 2017 - 10:38 AM
like what I see for a trade with fairly tight stop, bot fairly aggressive gdx position 22.70, now back to 20% long and again with a fairly tight stop
BSing away
Senor
#60
dharma
-
- Traders-Talk User
- 9,624 posts
Member
Posted 17 March 2017 - 10:51 AM
wednesdays move was on very big volume. yesterday the market consolidated that move, gave little to nothing back(which is also a clue). i am an investor.
i see no reason at this point to part w/any of my position. the last tip of hand the market gave in my opinion was wednesday and it was on big volume. and yesterday said i am consolidating those gains. the board has had no cheerleading only profit taking surprises will be on the upside!
there are 2 things i see in golds future !
1 gold revaluation.
2 money velocity turning positive. this will be huge for the miners. once the banks take their qe money ball out of the fed and put it in the fractional
reserve bank system to lend it out . then it is game on.
there are many many ways to play a market . anyone who is involved has to be comfortable
i figure based on the 70s fractal model that we have 3-5 yrs before they turn out the lights on golds bull market.
its not a sprint.
dharma
oh and we are approaching indian wedding season and india is back in the market.
