26 replies to this topic

[dharma]

looking @the hourly charts of xau/hui, the structure does not look impulsive. the lows are still ahead of us. dharma

[lhslancers3270]

looking @the hourly charts of xau/hui, the structure does not look impulsive. the lows are still ahead of us. dharma

Interesting dharma. We have the 5 year anniversary of the 2003 bottom coming up on April 4th. I would say we need to close over 17.50 silver and 940 Gold before we can say the bottoms have been properly tested. Gap in CEF over 13 needs to be closed over as well. Tough to say that much damage could be unwound so quickly. I think we need to stabilize some more.

[dougie]

dharma: how low can we go? 370 Hui low?

[dharma]

april 7th is the bradley. +-5days. i dont look @#s to determine the low, i let the market indicate the low. usually oversold w/divergences on the hourly charts is an indication. into support levels is another idea. fib. retracements. i am not of the mind that we go as low as most are looking for and if we should it will do it in a way they are not looking for. that april 4th date coincides w/bradley and anniversary dates are a gann tool. i have heard it bandied about that bsc was long gold futures and that position was liquidated. my feeling is the game is going to shift for gold. now it is a commodity, soon it will be a safe haven. the problems @this point are light, they will cause fear in the future. the banks/brokers will be scrutinized. spring was a full moon, and indicates a good harvest, so the grains may not perform as well as they had been. dharma

[vitaminm]

Ctrend projects........................................as long as ema3<ema5 on daily
hui..........391
xau........155
gld.........86

http://www.traders-t...mp;#entry360545

Edited by vitaminm, 24 March 2008 - 10:35 PM.

[dharma]

nice rally,but i am still not convinced the bottom is in. not that it matters to me. dharma i am fully long

[Jnavin]

I agree that the lows are not in. Same with oil -- looks like $89/barrel, if not lower, before any significant rally.

[dougie]

JN: where would you be thinking of going long the metals?

[Jnavin]

Dougie, I will wait to see some kind of positive momentum divergence before going long again -- $800/$770 is a target. Might be weeks...

[dougie]

JN: how do you chart momentum ?