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Gold Elliott Wave Warning


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#1 linrom1

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Posted 16 March 2020 - 10:22 AM

 

Gold move down is nowhere finished. There are two 1-2, 1-2 pumps in the middle of its count. Whatever its doing, it didn't finish 5 waves down yet.



#2 linrom1

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Posted 16 March 2020 - 12:28 PM

 

I don't really know how to label it, but, if there are 1,2;1,2;1,2 pumps that means that there is a mother of all down moves coming in?



#3 ryanoo

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Posted 16 March 2020 - 05:11 PM

in 2008 the miners fell hard with the general market; but it bottomed much earlier and started rising and rose substantially before the indices bottomed.  Assuming this is similar to the 2008 condition (the fundamental economy will be similar or worse with basically the entire global economy at full stop), wouldn't it be something that happens again?  Many are frozen in place and may be thinking to stick it out.

 

Also, for the first time since this pandemic started, today, Trump took facts seriously and did not blame the media as spreading hoax.  March 16, 2020.  Leading from rear.


Edited by ryanoo, 16 March 2020 - 05:14 PM.


#4 tradesurfer

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Posted 16 March 2020 - 09:13 PM

is silver going to hit 9 or 10 dollars THIS WEEK ??????



#5 linrom1

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Posted 17 March 2020 - 09:00 AM

is silver going to hit 9 or 10 dollars THIS WEEK ??????

Good question, it's bottoming, but you're right its still hasn't bottomed.



#6 linrom1

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Posted 17 March 2020 - 09:01 AM

 

Miners were wrong the last two years, and they're going to be wrong again! It's a total scam run by insiders and metal pumpers. In specific, I have no idea how these silver miners plan to stay solvent....banks won't lend to them.


Edited by linrom1, 17 March 2020 - 09:05 AM.


#7 dougie

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Posted 18 March 2020 - 02:48 AM

 

I don't really know how to label it, but, if there are 1,2;1,2;1,2 pumps that means that there is a mother of all down moves coming in?

you short here Linrom? 1000 target?



#8 linrom1

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Posted 18 March 2020 - 07:08 AM

 

 

I don't really know how to label it, but, if there are 1,2;1,2;1,2 pumps that means that there is a mother of all down moves coming in?

you short here Linrom? 1000 target?

 

No, NY is pumping it and gold miners. It's too risky, there are too many gold nuts. It sells off overnight, and then boom when NY opens!



#9 tradesurfer

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Posted 27 March 2020 - 01:42 PM

So to sum up, it looks like both the Sp500 AND the silver price AND the GDX are about to engage in wave 5 DOWN ?

 

Where we might see GDX do a truncated 5th wave down that does a double bottom and maybe sp500 does a marginal new low 5th wave down.... 

 

and maybe silver also does a truncated 5th wave down that is a double bottom.....

 

does that pretty much sum it up  for end of quarter next week ?? 



#10 linrom1

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Posted 27 March 2020 - 01:57 PM

So to sum up, it looks like both the Sp500 AND the silver price AND the GDX are about to engage in wave 5 DOWN ?

 

Where we might see GDX do a truncated 5th wave down that does a double bottom and maybe sp500 does a marginal new low 5th wave down.... 

 

and maybe silver also does a truncated 5th wave down that is a double bottom.....

 

does that pretty much sum it up  for end of quarter next week ?? 

Dust is on fire. Fund's biggest position is GDX.


Edited by linrom1, 27 March 2020 - 01:58 PM.