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what the hell, out on a limb. the 1850ish low marks the bottom of this correction. the next leg higher begins now


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#241 dougie

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Posted 23 November 2020 - 06:19 PM

i know a few large traders who wisely stopped out longs today



#242 Russ

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Posted 24 November 2020 - 12:02 AM

Support may be down in the 1750ish zone by the end of this week... 


"Nulla tenaci invia est via" - Latin for "For the tenacious, no road is impossible".
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong



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#243 Russ

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Posted 24 November 2020 - 12:28 AM

yes it was and he made that back when. way to go my friend 

Thanks Gannman,  I found this chart from August 28 when I told the programmer that helped me build out the oscillator it looked like

Gold would go down into late Nov to Early Dec., as I said above this week or early next week could see the final low down to the 1750 area. 


"Nulla tenaci invia est via" - Latin for "For the tenacious, no road is impossible".
"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong



http://marketvisions.blogspot.com/

#244 gannman

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Posted 24 November 2020 - 12:57 AM

the thing that makes the most sense to me is slv drops to the 19 area which is also a 50 % retrace of the wave up

 

and its 200 dma . we will see if it happens it is about 3 bucks away 

 

and probably gld down to about the 160 area 


Edited by gannman, 24 November 2020 - 01:00 AM.

feeling mellow with the yellow metal


#245 crossd

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Posted 24 November 2020 - 07:28 AM

the thing that makes the most sense to me is slv drops to the 19 area which is also a 50 % retrace of the wave up

 

and its 200 dma . we will see if it happens it is about 3 bucks away 

 

and probably gld down to about the 160 area 

also.. if u do a p&f chart of SLV in stockcharts(bottom panel)  u will see very solid support at 18

 

donc



#246 dharma

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Posted 24 November 2020 - 11:02 AM

finally , capitulation. 

we will see how long it lasts

dharma



#247 JGUITARSLIM

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Posted 24 November 2020 - 11:47 AM

Started nibbling...



#248 stubaby

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Posted 24 November 2020 - 12:07 PM

finally , capitulation. 

we will see how long it lasts

dharma

Indeed

 

My retrace target (130 basis XAU) has registered (this is in the area of the extension of the Head and Shoulders Neckline from 2011 - hitting it from above) - additional risk down to 112-115 - top of current cup-n-handle formation on the monthly, FWIW

 

http://schrts.co/jcYNmMdw



#249 dougie

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Posted 24 November 2020 - 02:22 PM

 

finally , capitulation. 

we will see how long it lasts

dharma

Indeed

 

My retrace target (130 basis XAU) has registered (this is in the area of the extension of the Head and Shoulders Neckline from 2011 - hitting it from above) - additional risk down to 112-115 - top of current cup-n-handle formation on the monthly, FWIW

 

http://schrts.co/jcYNmMdw

 

got a count? I see Tsharp says we ae now in a large c down in gold to 1000 area



#250 gannman

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Posted 24 November 2020 - 07:03 PM

it would not surprise me if this correction stays in force until dec 21 

 

we are still in a iii of c not finished yet . lot of damage has been done 

 

here 


feeling mellow with the yellow metal