Member
Posted 02 October 2018 - 10:45 AM
Apathy and lack of interest here does seem interesting and perhaps important here. So far the action laid out in the early posts appears to be coming to past, with gold likely headed higher in wave 3 or C above 1214 and I think toward the 1225 area at a minumum, The two legs are equal near 1234 - so far so good
Senor
Member
Posted 02 October 2018 - 01:05 PM
Apathy and lack of interest here does seem interesting and perhaps important here. So far the action laid out in the early posts appears to be coming to past, with gold likely headed higher in wave 3 or C above 1214 and I think toward the 1225 area at a minumum, The two legs are equal near 1234 - so far so good
Senor
Gold is riding up against the 50 day ma, it should move through that, then how about it goes back to the 200 day ma, 1284ish? There's a nice big gap up there. Using gld chart as $gold does not update intraday for free accounts on this site. Gold has been bottoming at the end of the year for the past few years, this time it bottomed in mid Aug., perhaps a cycle inversion will produce a high at the end of this year or early Jan.?
Edited by Russ, 02 October 2018 - 01:09 PM.
Member
Posted 02 October 2018 - 02:32 PM
we also have a possible head and shoulders bottom in gdx forming
it will have to accelerate here. we will see
Member
Posted 06 October 2018 - 11:29 AM
A candidate quasi cup and handle formation.
Spot gold has to get over $1208.
Volume Dynamics Specialist
Posted 06 October 2018 - 12:15 PM
Member
Posted 07 October 2018 - 09:30 AM
Semi, there are plenty of examples of gold consolidation bottoms (instead of V bottoms). The Dec 2015 bottom for instance and the Aug 15th bottom of this year - both triangles. The PM fix chart above matches the classic bottom triangle pattern. Whether or not it works remains to be seen.
Are you a bear forever? If not, what determines when you buy?
Volume Dynamics Specialist
Posted 07 October 2018 - 10:35 AM
Gold is dead money in these long protracted sideways moves, except for traders...
There's a 60 pt trading band, good enough for scalps...
And since the prevailing trend is still DOWN
I take my trades in the direction of the TREND...
And 8/15 was not the bottom, more likely to come in December...
Probably test 1040 this time.
Edited by SemiBizz, 07 October 2018 - 10:36 AM.
Volume Dynamics Specialist
Posted 07 October 2018 - 11:08 AM
This monthly chart puts it into a bigger perspective... the only "INVESTABLE" opportunities start with a V-Bottom... the timeframes you mentioned are barely a blip compared to the big rallies that started from V-Bottoms... So holding gold is dead money right now and it has been now for about 5 years... great for trading, poison for long term holding... going NOWHERE.
Member
Posted 07 October 2018 - 07:47 PM
what has happened on gld is we had a bottom in time segmented volume around sug 16
and since then we have had a crap rally but tsv has rallied nicely . so i am calling this rally
somce aig 16 a wave iv. i expect another selloff in gld to go down and challenge the lows
of aug 16 in price and perhaps take them out but i expect tsv volume to stay a lot higher
than it was on aug 16. if that happens and we rally strongly out of the lows i am expectiing
then odds are the bottom is in ha ha. lots of ifs but that is what i see the tsv on gld
looks good t me . lets see if it happens
