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


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#2251 senorBS

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Posted 06 October 2021 - 10:53 AM

really want to see GDXJ (39.31 last) accelerate up and away from this 39.30 area

 

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#2252 JGUITARSLIM

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Posted 06 October 2021 - 12:49 PM

 

Bought yesterday as well also liking the looks here!

what you buy JG?

 

 

GDX and GGO.V yes.gif



#2253 senorBS

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Posted 06 October 2021 - 01:23 PM

Liking what I see here, possible near term upside breakout/acceleration underway, lets see if it closes well

 

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#2254 senorBS

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Posted 06 October 2021 - 02:59 PM

BUENO session and BUENO close, which IMO adds to near term evidence a MUY IMPORTANTE bottom "might" finally be in place, we see

 

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#2255 dougie

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Posted 06 October 2021 - 03:46 PM

 

what is the bullish count here. I see too much overlap and structures that look like 3 waves moves up



#2256 senorBS

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Posted 06 October 2021 - 07:56 PM

fine, sit it out, we all gotta make our choices

 

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#2257 senorBS

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Posted 07 October 2021 - 08:44 AM

gotta like the action this mornin with the relative strength in the miners vs metals - that is why it is so impt to chart those miner/gold-silver ratios at potential KEY turns/bottoms, good stuff so far

 

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#2258 jabat

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Posted 07 October 2021 - 10:22 AM

Pushing On Resistance – Potential Breakout Setup

By Avi

Today, the GDX seems to have met up with our resistance region.  As you may remember, I outlined resistance in the 30.25-30.50 region.  And, as I speak, we are right in that region.

Clearly, we will need to complete a 5-wave rally through that region to provide us with an indication we can move back into the bullish trend.  Yet, the micro structure off the recent low is not exactly what I call “impulsive.”  But, admittedly, we have seen this happen several times before off the lows, so I am not going to discount this move up if we are able to move through resistance.

The GC still has the most immediate bullish potential on its chart.  As I have been highlighting over the last several days in our trading room, we have a reasonable 1-2 structure off the recent lows.  I have added a market pivot to the 5-minute GC chart.   If we can rally through that region, it will then become our new support for a continuation rally in a bigger 5-wave structure.  That will be my focus in the coming days if we should see a break out.

As far as silver is concerned, I have been noting it had strong potential to lead us out of this pullback.  And, as we speak, I am seeing potential for a micro 5-wave rally off the recent lows.  This certainly now puts a more immediate bullish spin to this chart and allows us to give the market room to complete a bigger wave [1] off the recent lows.  Should we be able to complete the [1][2] structure as outlined on the 144-minute chart, and then rally back over the wave [1], we will have moved into a very strong bullish structure as we look towards 2022.

Overall, we are starting to see “green-shoots,” as they say.  The only thing I am now waiting upon is the GDX to finally break out over its current micro resistance and complete wave i in green off its lows. Should we be able to complete that i-ii I have outlined on the chart, we can turn bullish once again.  But, allow the market to provide us with the appropriate set up.  

I will also note that a break out in GDX through its current micro resistance will cause me to cash in my GDX protective puts.  But, if we fail to complete 5 waves up for wave i, I will not hesitate to put them back on.



#2259 linrom1

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Posted 07 October 2021 - 11:11 AM

 

Pushing On Resistance – Potential Breakout Setup

By Avi


 

Thanks for info
 



#2260 gannman

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Posted 07 October 2021 - 12:01 PM

what i am thinking here is slv has one more retest of the 20 area 


feeling mellow with the yellow metal