2864 replies to this topic

[K Wave]

I am short GDXJ for now, way overbought and I can't count five completed waves down on GDX, but, that doesn't mean it hasn't bottomed. I am not in a rush. Today's news is non event.

 

We may get a pause.....or not

 

GDXJ now looking like full reclaim of the 900, and while it could back test 40 area, it could just as easily go vertical, as the bears give up.

 

But yeah, the yellow line is most likely spot for pause.

 

But if it goes right through, then could run pretty much straight to the 200 before next pause.

 

Edited by K Wave, 13 October 2021 - 12:03 PM.

[K Wave]

GDXJ hourly suggesting a move through the "up crash" window to the 900 very possible....

 

[linrom1]

 

I am short GDXJ for now, way overbought and I can't count five completed waves down on GDX, but, that doesn't mean it hasn't bottomed. I am not in a rush. Today's news is non event.

 

We may get a pause.....or not

 

GDXJ now looking like full reclaim of the 900, and while it could back test 40 area, it could just as easily go vertical, as the bears give up.

 

But yeah, the yellow line is most likely spot for pause.

 

But if it goes right through, then could run pretty much straight to the 200 before next pause.

I got a stop just above 43.31 and hope that it runs to $41.06?
 

Edited by linrom1, 13 October 2021 - 12:24 PM.

[dharma]

this could be really big news.  

https://mobile.twitt...295210396655620

will this end the midnight smackdowns?

dharma

[gannman]

thanks dharma guys i really like that spike bottom that occured in jnug on sep 29 we aint going back 

[linrom1]

this could be really big news.  

https://mobile.twitt...295210396655620

will this end the midnight smackdowns?

dharma

How so? LME had no volume. Most gold trading takes place on LBMA and NYMEX.

[K Wave]

first probes of 1800...bulls clear that and will like their chances way better...

[CHAx]

first probes of 1800...bulls clear that and will like their chances way better...

 

I think more importantly any probes of ~1775-1785 are the key here.  If this is beginnings of a wave 3/3/3  the move should not have as deep of pullbacks as we saw during the 1/2 1/2 (assuming this count is correct - we dont want to see wave overlap from the launch area and anything below 1773 makes the whole move suspect)

[linrom1]

It's tough to get price down now as everyone who missed the rally is piling in. Everyone is bullish now. That Hanke-Cofnas sentiment reading jumped from -9.95 on Oct 12 to +5.62 today morning, which is huge rate of change.

 

Open interest yesterday on gold futures had a huge increase too and that is supposed to be bullish.

[K Wave]

This should be the last hurdle to overcome for bulls on GLD 4 hour...failure not an option here...

 

IF it does get overcome, possibility for rapid upside action afterwards....

 

Edited by K Wave, 14 October 2021 - 09:31 AM.