23 replies to this topic

[dougie]

are those fibo exspansions? sorry for the ignorance

[Chilidawgz]

yeppers, I am still learning to use it as a tool.

[dharma]

yup, used the op yesterday to do some buying! dharma

[Chilidawgz]

I did some major buying yesterday also....weeee!

[beta]

Good to see you posting here, Chili ! -- really like your C-wave stuff. On 15-min charts, miners appear headed to retest May 17th peaks. This would project to about XAU 152. If time has symmetry here, might get there as early as tomorrow.

[Chilidawgz]

Let's see where this sucker wants to run to....weeeee!

Gold is real money and the world's currencies are nothing but pretty linen

[dharma]

chili i dont understand your stuff, there are many ways to shoot this elephant though. i am looking @ the gap fill @152-157 xau which is also .618 correction. whats especially interesting to me is the lack of participation of the sox on this rally, i think this is really spelling trouble. a former leader! dharma

[beta]

Great close on miners !! -- right at the highs. GG finally catching up. And AKS (steel) is leading the advance, as it often does on important commodity turns. If we get a second gap up to XAU 145, Im wondering if its "gap and go" in a new "three gap up" sequence. Some of the late day buying was likely from shorts on the open, thinking it would retrace (like yesterday). Friday is typically a light volume day, and would not be surprised to see it held up over today's gap. However, volume was relatively light today, and needs to expand on higher prices tomorrow/early next week to continue up. To paraphrase SemiBizz, "price attracts volume" -- or not. Above XAU 153 ==> wave overlap.

[dougie]

seeing lots of folks closing ST positions on todays bounce. newly scared bulls turned bears. the real surprise now would be for this to have legs

[Chilidawgz]

got greedy and sold half my positions on close Tight stops, will let the market take me out for now...lately I am trading much shorter time frames.