1010 replies to this topic

[Smithy]

Thanks Tim, putting dates on the chart clarifies.

[Smithy]

Dharma, can you advise the DSI on the day of the gold peak at 1557 which was Weds Sept 4th?

[senorBS]

 

Senor

This  silver chart is  by cdelaney from other forum

. He is still looking for wave 4 bottom then a Wave 5. You have been recently concentrating on silver and silver etfs. Your input will be appreciated.

 

 

 

Si, that is my preferred count as well that silver ended a large wave 3, interesting that we are only 2% or so away from the 38% retracement levels at Fridays lows - if I remember correctly SLV 15.60 and silver 17.50. While the correction could end right away I think it more likely this is wave A and we may need one more small 4/5 to complete it just below Fridays lows. Then we need a wave B rally and then a wave C to likely touch those retracement levels. That IMO is the likely the worst case scenario and for a trade buying Fridays lows or modestly lower on Monday is likely a solid bet as we are already got pretty close to those 38% retracement levels. 

 

Senor

[senorBS]

should have beem 16.60 for SLV 38% retracement target

 

Senor

[dougie]

then up in a 5 wave high in silver before a more substantial 1-2 month correction IMO

[senorBS]

then up in a 5 wave high in silver before a more substantial 1-2 month correction IMO

si Dougie, that would be my thinking at this time, also the GSR looks like one more new low after perhaps further upside correction would also be 5 down there to help confirm the overall bullish metals action

 

Senor

[Russ]

then up in a 5 wave high in silver before a more substantial 1-2 month correction IMO

That count is at odds with Stu's count.

[senorBS]

 

then up in a 5 wave high in silver before a more substantial 1-2 month correction IMO

That count is at odds with Stu's count.

 

Stu or me or anyone else has no corner on what the correct count is here - its all subjective and "best guess" as always. Frankly IMO its a count that is hard to argue with unless one is big picture bearish and a large ABC rally from THE low has ended. But as always Ewave is subjective and can morph into other counts, for example it is also viable wave 3 higher is not yet done and

extends. And a wave 4 here could be a simple abc or could trace out a contracting tri, for now I am not sweating the smaller stuff except for trading around my core LONG position.

 

Senor

[senorBS]

added some SILJ at 10.26 and Wesdome (WDOFF) at 4.99, as always DYODD

 

Senor

[hhh]

I can see GDXJ forming a bullish Gartley possibly. It would target 37.6 before going up I think. I don't have time to run the ratios right now. I'm paralleling the downtrend formed from the peaks after Aug 1 (the X point): Aug 7 and Aug 28.

Edited by hhh, 09 September 2019 - 09:19 AM.