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


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#2491 dougie

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Posted 23 February 2022 - 06:38 PM

 

Thanks Senor. 

 

A few of the pundits (David Hickson, Eric Hadik , Chris Vermulen) have independently arrived at an 18 month cycle high in gold due this or next week. I'm leaning towards ignoring it and relying on the longer term gold bullish breakout pattern. Trading in and out of an upmove can be tricky and one can get left behind.

Obviously with the difficult metals market we have had for a long time I will rule nothing out and assume nothing, for me I will do my best to follow the charts and try to discern what they imply, for now the upside IMO deserves the benefit of doubt and it "appears" we have or are in the process of breaking out of the big time sideways pattern, if correct that IMO does not imply a top but instead a large up move in time and price. Have never been much of a cycle guy - perhaps there cycle is a low instead of a high? we see

 

add on: Just looked at the weekly and monthly miner chart/technicals - really difficult for me to think a high here/soon vs what appears a mkt finally likely turning higher after an extended decline/bear mkt from the Aug 2020 highs.

 

Senor

 

agree. a small ullback here is likely but the daily and weeklies ar not inIMO



#2492 senorBS

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Posted 24 February 2022 - 10:21 AM

I exited all longs either pre market or in first 10 minutes of trading, just had a "feeling". The reversal lower looks ugly but in this war driven environment anything can happen and this might just be a short term shake out, very important how we close today. So now 100% cash and just gonna watch, as always DYODD



#2493 hhh

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Posted 24 February 2022 - 10:24 AM

Caution here, GDXJ just completed a bearish bat (or some other species, I've lost count) over the last week. Should pull back to T1: 43.04 or T2: 42.61.

Blew through 43.04 down to 42.80 which is pretty close to the 50% retrace. Doesn't look like it'll make it to 42.61 any time soon. I realize the shark (not a bat as it turns out) blew through its top, but somehow it still made one of its targets.



#2494 senorBS

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Posted 24 February 2022 - 02:14 PM

Thanks Senor. 

 

A few of the pundits (David Hickson, Eric Hadik , Chris Vermulen) have independently arrived at an 18 month cycle high in gold due this or next week. I'm leaning towards ignoring it and relying on the longer term gold bullish breakout pattern. Trading in and out of an upmove can be tricky and one can get left behind.

Well, well, well. Today's huge spike higher and current reversal from that high certainly has to make one "consider" these guys "might" be right. If we don't take out today's highs in the next 2-3 days one has to ponder a bearish outcome here, I am out and contemplating. Given my exits this morning at this time I'd rather wait for a push to/above this morning's highs to possibly reenter. Gonna be very volatile, be careful out there!

 

Senor



#2495 hhh

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Posted 24 February 2022 - 02:19 PM

 

Caution here, GDXJ just completed a bearish bat (or some other species, I've lost count) over the last week. Should pull back to T1: 43.04 or T2: 42.61.

Blew through 43.04 down to 42.80 which is pretty close to the 50% retrace. Doesn't look like it'll make it to 42.61 any time soon. I realize the shark (not a bat as it turns out) blew through its top, but somehow it still made one of its targets.

 

Second target hit.



#2496 dougie

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Posted 24 February 2022 - 08:20 PM

 

Thanks Senor. 

 

A few of the pundits (David Hickson, Eric Hadik , Chris Vermulen) have independently arrived at an 18 month cycle high in gold due this or next week. I'm leaning towards ignoring it and relying on the longer term gold bullish breakout pattern. Trading in and out of an upmove can be tricky and one can get left behind.

Well, well, well. Today's huge spike higher and current reversal from that high certainly has to make one "consider" these guys "might" be right. If we don't take out today's highs in the next 2-3 days one has to ponder a bearish outcome here, I am out and contemplating. Given my exits this morning at this time I'd rather wait for a push to/above this morning's highs to possibly reenter. Gonna be very volatile, be careful out there!

 

Senor

 

series now of higher lows and higher highs argues against that. pullback to be sure



#2497 dougie

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Posted 24 February 2022 - 08:57 PM

but who am i to doubt your sage perspectives here; indeed the TOP could be in and the plunge down (sell the news) is something to watch



#2498 senorBS

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Posted 25 February 2022 - 12:26 PM

but who am i to doubt your sage perspectives here; indeed the TOP could be in and the plunge down (sell the news) is something to watch

Dougie I am a TRADER here, got very lucky yesterday selling all longs and most near highs. Does not usually end up that well but I will take. It's tough here IMO when, I look at weekly/monthly charts it is harder not to be bullish, when I look at the "daily" spike up and reversal lower yesterday I have cause for concern. That being said I bot a few long trading positions this morning, modest positions with relatively tight stops - as I said am a TRADER here.

 

Senor



#2499 dougie

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Posted 25 February 2022 - 03:26 PM

 

but who am i to doubt your sage perspectives here; indeed the TOP could be in and the plunge down (sell the news) is something to watch

Dougie I am a TRADER here, got very lucky yesterday selling all longs and most near highs. Does not usually end up that well but I will take. It's tough here IMO when, I look at weekly/monthly charts it is harder not to be bullish, when I look at the "daily" spike up and reversal lower yesterday I have cause for concern. That being said I bot a few long trading positions this morning, modest positions with relatively tight stops - as I said am a TRADER here.

 

Senor

 

and a trader few can match



#2500 senorBS

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Posted 25 February 2022 - 03:59 PM

Just exited and took a nice day trade profit, 100% cashola, rather not hold over the weekend for now, as always DYODD

 

Senor