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out on a limb! bottom for wave 2 in !?


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#11 Russ

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Posted 03 June 2019 - 10:44 PM

Thanks Senor and here is something else I have been working on: there is a strong correlation between the Gold chart and the US Dollar index, both of these charts have strong trends on my oscillator for a major turn in late 2020 near the next American Presidential election. Gold high and Dollar index big low is what it looks like, I don't know how high gold could go on this move the trendlines pointing at the 8000 dollar level are likely a stretch. I should run these charts using Tradestation 4 eventually for further confirmation as it is superior software to tradingview for my method.

 


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#12 stubaby

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Posted 03 June 2019 - 11:15 PM

Minimum $XAU Targets C=A price and time, FWIW

 

http://schrts.co/CeQXtenD



#13 dharma

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Posted 04 June 2019 - 10:55 AM

so  stu baby so you see the rally as a correction?

senor i too have commented on the size of the base in gold.skyscrapers are built from big bases and this one is quite long

powell toldthe market what it wanted to hear/  it tells me folks believe in the fed. they can control market forces!

read this am druckenmiller sold all his stocks and bought bonds.he is looking for 0 rates.  yes so am i. can you say STAGFLATION

gold 1400

silver above15 is the starting gun for the steeds to run smaller yields or production of crops is in the cards

dharma



#14 stubaby

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Posted 04 June 2019 - 11:43 AM

so  stu baby so you see the rally as a correction?

 

no - I said "minimum targets" - I like to always start with "worst case" - if it's Wave 3 would be substantially higher.  Still way early to confirm anything - right now 'high odds' correction from 2016 peak complete (as I said need a higher high to go with our higher low) - still 50/50 on whether is now corrective C or beginning of 3 and I don't care which right now - as BOTH are substantially higher - so to me I focus on that February peak as our next level of confirmation.



#15 dharma

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Posted 04 June 2019 - 12:41 PM

 

so  stu baby so you see the rally as a correction?

 

no - I said "minimum targets" - I like to always start with "worst case" - if it's Wave 3 would be substantially higher.  Still way early to confirm anything - right now 'high odds' correction from 2016 peak complete (as I said need a higher high to go with our higher low) - still 50/50 on whether is now corrective C or beginning of 3 and I don't care which right now - as BOTH are substantially higher - so to me I focus on that February peak as our next level of confirmation.

 

ok appreciate the clarification in your thinking. i also need to see higher highs for validation. so far it looks good still has to prove itself. otherwise 

stuck in the gulag

dharma



#16 dougie

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Posted 04 June 2019 - 01:06 PM

Minimum $XAU Targets C=A price and time, FWIW

 

http://schrts.co/CeQXtenD

I guess only stockcharts members can see that Stu: would you be so good as to paste a screenshot?



#17 stubaby

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Posted 04 June 2019 - 01:18 PM

 

Minimum $XAU Targets C=A price and time, FWIW

 

http://schrts.co/CeQXtenD

I guess only stockcharts members can see that Stu: would you be so good as to paste a screenshot?

 



#18 dougie

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Posted 04 June 2019 - 02:08 PM

nothing came through Stu



#19 dharma

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Posted 04 June 2019 - 02:35 PM

the commentary on cnbs is positive reaction from the fed and easing of trade tensions w/china..well it seems the trade war w/china is about hegemony. this battle is destined to last awhile. on the technology front banning huawei is a shot across the bow https://d33wjekvz3zs.../12/TAX-CYC.jpg

this schizophrenic market responding to the whims of the daily news is great for traders. the pm sector is overbought. now we either get a backtest or a consolidation.  a successful backtest is quite bullish still need new highs for confirmation of up trend

dharma



#20 stubaby

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Posted 04 June 2019 - 05:31 PM

nothing came through Stu