911 replies to this topic

[senorBS]

Since gold did make a new rally high basis spot today just above 1244 and DID NOT so far break out to the upside an interesting count "might" develop from the 1160 low - that being a 5-wave "leading diagonal" triangle wave 1, if in effect it could also imply a corrective decline back down to the 1200 area. Not saying that is going to happen but gold soon needs to decisively break out above 1244-1245 or IMO that count becomes more possible. Gotta be flexible here, I did lighten up longs to the 30% level today, lets see what transpires

 

Senor

[senorBS]

Since gold did make a new rally high basis spot today just above 1244 and DID NOT so far break out to the upside an interesting count "might" develop from the 1160 low - that being a 5-wave "leading diagonal" triangle wave 1, if in effect it could also imply a corrective decline back down to the 1200 area. Not saying that is going to happen but gold soon needs to decisively break out above 1244-1245 or IMO that count becomes more possible. Gotta be flexible here, I did lighten up longs to the 30% level today, lets see what transpires

 

Senor

More interesting stuff:

There are potential bearish contracting triangle counts (from early Sep low) that might have ended wave "E's" today in GDX/XAU/HUI, that could imply thrusts down to below those Sep lows and a FINAL bottom, this would likely happen with gold declining to that 1200 area in a correction of its Leading Diag wave 1. What's nice about the contracting tri counts is that they can get invalidated with a small rally - for example a GDX rally above 19.92 (only 22 ticks away) would invalidate the bearish pattern as I have just laid it out. So there are valid bearish patterns here  that "might" have us going lower for bit, however what I really like is that IMO it HAS TO decline NOW for the bearish stuff to play out, GDX going above 19.92 IMO then starts favoring the bulls. I love it when I have such tight parameters.

 

Senor

[senorBS]

BTW I have no clue as to whether the "possible" bearish counts I outlined in my last 2 posts will play out. I think given that I remain about 30% long tells the key story about what I think the big picture risk/reward is. Its always good to have differing views and watch key levels that can help you determine which scenario is more likely to play out, just trying to help everyone and myself in this process. GLTA

 

Senor

[dougie]

bearish case makes the most sense  gut wise

[johngeorge]

Stewart Thomson says: Gold Stocks: Twin Technical Turbos

http://www.321gold.c...n_s_120418.html

 

[senorBS]

critical near term juncture IMO as I think its accelerate higher above key resistance (GDX 19.92, HUI 151.42) or die time. I still think there is a very decent chance that we could accelerate sharply higher here -,key day ahead

 

Senor

[johngeorge]

Spost gold at 1243 as of now Can stocks be far behind?  Will know in the fullness of time.  Senor your call is looking good.  Thanks for the postings. 

[senorBS]

moved back to 50% long when GDX went above 19.92 - tight stop on those positions, as always DYODD

 

Senor

[K Wave]

Silver stair steppin' towards breakout?

 

Good action yesterday...now we see if bulls can bust 14.75 today....if so, then $15 likely gets taken shortly thereafter

 

Stop at 14.50 now...

Edited by K Wave, 07 December 2018 - 10:01 AM.

[senorBS]

Spost gold at 1243 as of now Can stocks be far behind?  Will know in the fullness of time.  Senor your call is looking good.  Thanks for the postings. 

I like it "so far" but beauty here for me here  as I am playing for a decisive upside breakout is tight stops IMO can and should be used, we see

 

Senor