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The REAL wave 3, possible V bottom thread


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#21 K Wave

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Posted 06 March 2020 - 10:46 AM

Back below 29 on GDX was bad, but below $28 today would be catastrophic to the short term.



#22 K Wave

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Posted 06 March 2020 - 10:49 AM

1640-50 zone critical for GC...

 

Below that, and rapid rupture very possible....



#23 K Wave

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Posted 06 March 2020 - 10:51 AM

GLD 1 min 900 battle raging right now...

 

If bulls lose it....LOB



#24 K Wave

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Posted 06 March 2020 - 10:59 AM

GLD holding thus far....IF still long, would use a breach of 155 as a stop now.

 

Let's see how how far bulls get with the bounce....



#25 dharma

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Posted 06 March 2020 - 11:50 AM

turn right on schedule , i have been saying the 6-9 if you are swing trading its a feast. if you are holding positions its a yawn

i liked the fact that we corrected had another 5 wave advance. in gold , and the miners.  and now we are correcting that . the fed meets later this month  i dont think this correction lasts long.  well dharma look at silver ! it is lagging . 96:1 ratio to gold .  my take on that is simple silver offers little to nothing in this environment. it becomes a monetary metal when there is inflation/stagflation.  we will see that rise later in the year.  (i hold very little @ this point in the way of silver and silver miners. that comes later) @present we are in deflation/disinflation.   well then what about platinum? ok  the pgm sector has soared it has gone parabolic except for platinum . @ present i believe platinums woes are due to manufacturing being dormant in china. today is a different day

 

these 2 charts caught my eye. dow/gdx starting to move in favor of gdx https://gracelandupd...mar6riders1.png

this is a giant base in gdx https://gracelandupd...20mar6star1.jpg from here syscrappers are built  i look for that to happen later this year

dharma



#26 dougie

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Posted 06 March 2020 - 11:54 AM

what was the apparent trigger for massive vol sell off in gold?



#27 dharma

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Posted 06 March 2020 - 12:17 PM

senor it took a few days tor folks to catch on to your V . and when they did , it was from the vantage of skepticism!

hmmm

dharma

commerzbank is free fallin

https://www.youtube....h?v=1lWJXDG2i0A


Edited by dharma, 06 March 2020 - 12:25 PM.


#28 dougie

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Posted 06 March 2020 - 12:27 PM

well the V is not certain here by any means is it. the waterfall delines on volume ...



#29 dougie

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Posted 06 March 2020 - 12:34 PM

but Look at platinum...

one wonders if hte boys are not running stops ...something smells



#30 K Wave

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Posted 06 March 2020 - 01:22 PM

DUST consolidating in what looks like bull flag above 1 min 900.

 

Might want to move GLD stops up to last pivot low at 156.40 now.

 

Maybe a little fake intraday breakout up towards 157.50 before next wave down begins?


Edited by K Wave, 06 March 2020 - 01:22 PM.