2864 replies to this topic

[jabat]

Graddhy Tweets

https://twitter.com/...?msgid=33511255

[dharma]

cat stevens/yusef

dharma

jabat yup    lots of ways to look at this but the conclusion is the same we are oversold and miners are cheap vs gold

[K Wave]

Kwave, what is the significance of Gold Euro vs Gold USD?

GOLD in Euro is acting much stronger relatively speaking on my stuff, so watching for potentially early break back into bullish stance there on more intermediate time frames.

If Gold in Euro breaks out on Monday, then reasonably likely Gold in USD will eventually assume intermediate bullish stance as well, as it is currently lagging badly, with hourly through 4 hour still in bearish stance...

 

You can trade around in the chop...but it is physically impossible to have a roaring bull run until all intermediate to longer term time frames get in sync upside...

 

Nothing is 100%, but my stuff let's me know when the transition is most likely....

 

GOLD in EURO is very close to flashing a buy signal, perhaps for a long time to come....

But with the relative weakness of Gold in USD, am still wary the breakout wont come, even though it does look all perfectly setup....

My guess is if Gold does not gap down on Sunday night, then Gold EURO will most likely start the breakout process next week.

 

For graphical example, let's look at Daily and 4 hour charts for Gold Euro and Gold USD.

It is pretty abundantly clear that should Gold move up, the Euro version will lead the way....

 

GOLD EURO Daily

 

 

GOLD USD daily

 

 

Gold EURO 4 hour

 

 

GOLD USD 4 hour

 

Edited by K Wave, 01 October 2021 - 07:51 PM.

[K Wave]

GOLD in AUD looks even more potentially ready to rock....although hard down through the 200 would be a big warning  at this point...

 

In any event, the big wedgie should be very close to releasing....

 

[K Wave]

And here is GOLD in AUD Hourly

 

So as you can easily see, still the possibility that resistance is not overcome, and we get hard down instead.

 

But hourly line is the last resistance before open spaces upside, so if it does get overcome, then reasobably likely GOLD AUD would be about to take off upside...

 

 

And 4 hour line just below, so hard down on Hourly would likely breach the 4 hour as well.

 

But currently the 4 hour looking potentially very bullish after holding nicely on the decline.

We should find out early next week whether hourly or 4 hour has final say on the wedgie.

I usually give benefit of doubt to the longer time frame in these type of setups, but I have seen them go both ways....

 

 

And to take things to an even finer point, 2 hour is fully wedged... where it could go either way (with momo trying to rollover)...

So hard to commit to IT direction just yet.....

 

Edited by K Wave, 01 October 2021 - 08:11 PM.

[dougie]

until we take out 1850 we still could go a LOT lower. Miners are sick here. too much damage.

[senorBS]

until we take out 1850 we still could go a LOT lower. Miners are sick here. too much damage.

"sick" is an interesting way to describe the miners IMO. "Dirt cheap" is one I prefer as many miners are cash cows at current gold prices, have good balance sheets, pay divvies etc - perhaps the best they have looked "fundamentally in the past 20-30 years. Also they are technically oversold as seen at many of the other key int term lows in the past 5-6 years, sentiment at similar levels as seen at key lows in past 5-6 yrs as well. And a likely huge corrective wave pattern IMO looking at/near completion from last August's highs. I don't know what else you could want in looking for a key bottom? some type of iron clad guarantee? LOL  It "CAN" ALWAYS go lower or higher, but what do similar charts/technicals/sentiment levels imply 90% or more of the time when these type of extremes/readings are seen? Great risk/reward from an int term to bigger picture perspective IMO. You have been very spot on lately but this latest post I really don't "get". 

 

Senor

Edited by senorBS, 03 October 2021 - 06:09 PM.

[K Wave]

The hours keep ticking by, and GOLD EURO cannot seem to break through 1520.

 

Bulls need to act soon before the clock runs out......

[K Wave]

Looks like the pivot at GOLD EURO 1520 now FIRMLY set....

 

Until Bulls actually break and hold it, they got nuthin'........

 

Still well within striking range, but time runs short....

 

[K Wave]

And that 2 hour rollover attempt on GOLD AUD now looking perhaps a bit more likely....