Member
Posted 19 May 2017 - 09:18 AM
bot this early pullback with very tight stops in a fairly aggressive short term trade, the reason I am taking these stabs is I think we have clear 5-wave hourly and daily rallies from the early May lows to this weeks high, and this "possible" retracement" has hit 38% levels and previous 4th wave support areas. Key near term juncture IMO and as always DYODD
Senor
Member
Posted 19 May 2017 - 10:33 AM
Senor, I'm seeing this as a B wave rally. Thoughts?
Member
Posted 19 May 2017 - 10:38 AM
Senor, I'm seeing this as a B wave rally. Thoughts?
can't rule it out but "one" bullish count could have the short term correction already done - that's the aggressive trade scenario I have going. I bot the GDX this mornin at 22.72 and have now raised my stop to breakeven and if we don't close very strong and I'm still long them I am OUT TODAY
Senor
Member
Posted 19 May 2017 - 11:05 AM
the gld has a potential large pattern h&s bottom forming , w/the rt shoulder being formed now
it also has a shorter term h&s top being formed.-talking about the top all of the gold smashes from the 1900 top have been instigated by policy shifts in india. eg, gold broke the 1500 solid support at 1500 w/the installment of the 80/20 rule and the 10% tax. well the tax is being discussed again, jaitley is being asked by the jewellers to make it 1.5% . jaitley imo is a bankster whipping boy. so whatever his policy is it could affect the market. me, i am cautious. very long but cautious
there have been 2 rate hike cycles since 1970 , but have been bullish for gold against fiat
we are at a bit of a crossroads here. it is a seasonal weak time of year for gold . lots of news which could send this market one way or the other
caution
dharma
Member
Posted 19 May 2017 - 02:25 PM
Senor, I'm seeing this as a B wave rally. Thoughts?
given what I consider a "meh" miner performance today given the gold rally perhaps gold makes a new rally high Sunday night/Monday and completes its own 5 up from 1206 area while miners end a B wave on Monday. then we see corrections into a wave ii low below the recent GDX/HUI lows of the past few days, Senor just exited aggressive GDX long for a small gain
BSiing away
Senor
Member
Posted 19 May 2017 - 02:44 PM
cots
http://news.goldseek.../1495222244.php
gold and silver cots look alot more favorable to the bullish case .
commercials still really short the dollar
dharma
Member
Posted 19 May 2017 - 02:44 PM
Senor, I'm seeing this as a B wave rally. Thoughts?
given what I consider a "meh" miner performance today given the gold rally perhaps gold makes a new rally high Sunday night/Monday and completes its own 5 up from 1206 area while miners end a B wave on Monday. then we see corrections into a wave ii low below the recent GDX/HUI lows of the past few days, Senor just exited aggressive GDX long for a small gain
BSiing away
Senor
Thanks for sharing, Señor. I'm staying long fwiw.
Member
Posted 19 May 2017 - 03:10 PM
Senor, I'm seeing this as a B wave rally. Thoughts?
given what I consider a "meh" miner performance today given the gold rally perhaps gold makes a new rally high Sunday night/Monday and completes its own 5 up from 1206 area while miners end a B wave on Monday. then we see corrections into a wave ii low below the recent GDX/HUI lows of the past few days, Senor just exited aggressive GDX long for a small gain
BSiing away
Senor
Thanks for sharing, Señor. I'm staying long fwiw.
I remain long a "core" as well, just exited my aggressive day trade
Senor
Member
Posted 20 May 2017 - 11:08 AM
the dollar has a history of going down in repulican presidencies.
dharma
