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seems its time for a new thread. war markets are treacherous


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#2491 senorBS

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Posted 05 August 2022 - 02:51 PM

GLD daily and spot Gold daily both have a clean daily 5 up from the low, appears we are already working on wave 2 - will it be shallow or deeper? Very clear IMO - the proverbial monkey could count it. we see

 

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#2492 jabat

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Posted 05 August 2022 - 07:05 PM

By Avi

And, the plot thickens in GDX. While I was tracking that potential 1-2 to the downside in yellow, the drop today best counts as a 3-wave structure.  Therefore, the bulls are not yet dead.

So, now the market has given us tighter parameters to track - - yesterday's high, and today's low.  The one which breaks first will likely be the direction we take in the next larger move.  And, if we can break over yesterday's high, it certainly provides us with a strong suggestion that the low for GDX has been struck.



#2493 senorBS

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Posted 05 August 2022 - 07:56 PM

 

By Avi

And, the plot thickens in GDX. While I was tracking that potential 1-2 to the downside in yellow, the drop today best counts as a 3-wave structure.  Therefore, the bulls are not yet dead.

So, now the market has given us tighter parameters to track - - yesterday's high, and today's low.  The one which breaks first will likely be the direction we take in the next larger move.  And, if we can break over yesterday's high, it certainly provides us with a strong suggestion that the low for GDX has been struck.

 

he needs to take a look at the GLD and spot gold chart and stuff like SILJ that has 5 up daily as well, as does the Aussie XGD index, and da beat goes on

 

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#2494 Smithy

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Posted 05 August 2022 - 08:45 PM

".....   Hurst Gold caveat:..the low just formed in July 2022 MAY be a 9 year cycle LOW....donc ....."

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I haven't watched the video yet,. but the low of 4.5 yrs ago in late 2017 looks iffy, and 9 years in mid 2013 is underwhelming too.

I'm not seeking to be critical, just evaluating it.

 

The 8 year cycle -2008, 2016, 2024 looks better to me.

 

And 7 year - 2001 / 2008 / 2015 / 2022

 

I find cycles messy but include them in my thinking.

 

Comments welcome.



#2495 dougie

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Posted 05 August 2022 - 08:54 PM

 

By Avi

And, the plot thickens in GDX. While I was tracking that potential 1-2 to the downside in yellow, the drop today best counts as a 3-wave structure.  Therefore, the bulls are not yet dead.

So, now the market has given us tighter parameters to track - - yesterday's high, and today's low.  The one which breaks first will likely be the direction we take in the next larger move.  And, if we can break over yesterday's high, it certainly provides us with a strong suggestion that the low for GDX has been struck.

 

i dont see it: if we take out today low that can still be in an ABC structure, no?



#2496 gannman

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Posted 06 August 2022 - 08:06 AM

we just need to rally gld over 176 first then 181 otherwise its all noise imo


feeling mellow with the yellow metal


#2497 senorBS

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Posted 06 August 2022 - 03:25 PM

My bottom line is that I am not expecting any recent low to necessarily be a "final one", I think we can have a several week/couple month int term rally and then we'll see what the wave structure off the low looks like, I am a "swing trader" only for now, no bigger picture assumptions, remain 40% long

 

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#2498 dougie

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Posted 06 August 2022 - 06:53 PM

My bottom line is that I am not expecting any recent low to necessarily be a "final one", I think we can have a several week/couple month int term rally and then we'll see what the wave structure off the low looks like, I am a "swing trader" only for now, no bigger picture assumptions, remain 40% long

 

Senor

yeah good point. we might retest or we might fail...one  thing is for sure: this bull will shake off most riders



#2499 senorBS

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Posted 07 August 2022 - 11:53 AM

Interesting short term "possible" gold count of a wave 4 of C contracting tri ending Friday, if correct it would portend a quick thrust down to 1760 area to end a correction of the 5 up daily rally from the decline low. Should occur Sunday night/Monday if count is going to play out, would be a very good trading buy point IMO "IF" occurs, we see and as always DYODD

 

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Edited by senorBS, 07 August 2022 - 11:58 AM.


#2500 dharma

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Posted 07 August 2022 - 02:16 PM

My bottom line is that I am not expecting any recent low to necessarily be a "final one", I think we can have a several week/couple month int term rally and then we'll see what the wave structure off the low looks like, I am a "swing trader" only for now, no bigger picture assumptions, remain 40% long

 

Senor

there are  5 waves down from the last highs in gold, so unless those lows are taken out. , this rally will be a corrective rally

dharma