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THE PRIMARY WAVE THREE thread and finding the Intermediate wave TWO corrective low


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#1651 senorBS

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Posted 10 June 2021 - 02:26 PM

 

 

the time segmented volume on gdx had a nice run  into the 40.13 high now it has pulled 

 

back nicely with little price damage and is ready to move higher again. i have this next 

 

leg on gdx as iii of 3 fwiw 

Pretty much EVERYTHING gold/silver/miner oriented I look at looks corrective down from recent highs, that does not mean we can't go lower after another decent bounce but a lot of stuff to my eyes have "ended" looking downside patterns, we see

 

Senor

 

agree though a c down here to complete the correction is possible to my eyes

 

Don't think so but its possible, just look at a daily GDX/NEM/GOLD chart - IMO clear ABC declines likely complete given today's rallies - we see

 

Senor



#1652 Russ

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Posted 10 June 2021 - 02:27 PM

 

GDX looks like it is going to peak around August 19, so the GLD test of support chart that Smithy posted under in his post could be correct and the pullback is over now and gdx should take out last years high based on the uptrend lines. Chart appears to have already done 5 waves up but more should be coming.   

i was thinkiningan August low. Doest solver usually launch in August?

 

What is solver?  This seasonal chart agrees that August can be a peak, it sure has in some of the recent past years. http://www.321gold.com/editorials/sfs/hubbartt070612/sfsgoldseasonaljuly62012.gif sfsgoldseasonaljuly62012.gif



#1653 Russ

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Posted 10 June 2021 - 02:35 PM

that date makes a lot of sense to me russ thanks for that info

You're welcome. It appears to have found some support and is on it's way. 


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#1654 CHAx

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Posted 10 June 2021 - 07:59 PM

 

that date makes a lot of sense to me russ thanks for that info

You're welcome. It appears to have found some support and is on it's way. 

 

 

The shorts dug in really hard these last few days:

 

https://www.dailyfx.com/gold-price

 

sentiment supports your view.  Hope it can fuel the launch!  thanks for sharing your charts!


Edited by CHAx, 10 June 2021 - 08:06 PM.


#1655 dougie

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Posted 10 June 2021 - 11:39 PM

 

 

GDX looks like it is going to peak around August 19, so the GLD test of support chart that Smithy posted under in his post could be correct and the pullback is over now and gdx should take out last years high based on the uptrend lines. Chart appears to have already done 5 waves up but more should be coming.   

i was thinkiningan August low. Doest solver usually launch in August?

 

What is solver?  This seasonal chart agrees that August can be a peak, it sure has in some of the recent past years. http://www.321gold.com/editorials/sfs/hubbartt070612/sfsgoldseasonaljuly62012.gif sfsgoldseasonaljuly62012.gif

 

My bad;l Silver runs OFTEN HAPPEN IN JULY



#1656 dougie

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Posted 11 June 2021 - 01:41 AM

i think we run here now . decline likely in.



#1657 Smithy

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Posted 11 June 2021 - 08:01 AM

Kwave, your call for GDX to return to the 200 dma at 36.6 is lookin' good.



#1658 CHAx

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Posted 11 June 2021 - 08:13 AM

Kwave, your call for GDX to return to the 200 dma at 36.6 is lookin' good.

 

If we hit 36.6 we invalidate the One Two, One Two count off the lows.  Meaning its unlikely we hit new highs in 2021, no wave 3 extension off the lows.  Not a problem big picture wise, but intermediate time frame big implications.



#1659 linrom1

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Posted 11 June 2021 - 08:48 AM

I think we go down hard here on metals.

 

US10 is at 1.45%?


Edited by linrom1, 11 June 2021 - 08:49 AM.


#1660 CHAx

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Posted 11 June 2021 - 08:58 AM

I think we go down hard here on metals.

 

US10 is at 1.45%?

 

How is that bad for gold?  Real inflation running hot, nominal rates low.....  Negative real rates.   Not that fundamentals matter for trading but what am I missing?