jangseohee

Gold bug channel

INDEX:HUI   Gold Bugs Ndx
444 36 10
This gold             bug index really has a silver             mirror attached to it at 146.8
The 311.74% increase from 2001 to July 2002             can be projected almost identically by using reflection which resulted in same % of price target hitting around 600 before it collapsed. If the current narrow downtrend channel is valid and price broke below 146.8, the next cluster of support would most probably be around 125-130.

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HS broke down
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oh dear
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IvanLabrie PRO jangseohee
Excellent...a neutral triangle :D
It makes sense now, I always was confused by H&S in a falling trend like this.
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now the H&S downside target reached, what's the next move?
big picture
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Babar PRO jangseohee
wash and repeat..
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Babar PRO jangseohee
GDX is volatile one, does not mean anything.... you have to watch for XAG on that 15.50-15.90 range IMO
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i sold most of my longs friday and yesterday anyway, will see how this week closes
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Hi. I used your favorite tool to analyse HUI and SPX, and got some interesting results. It looks like HUI may have a little more room to fall, or alternatively SPX has a little more room to rise before a long-term top.
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jangseohee JohnKeverich
well done John,
but remember, ratio can be rather tricky at times.
we need several good breath indicators to nail down the actual turning point base on confluence ^_^
nice work
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JohnKeverich jangseohee
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The area I marked as purple circle seems like a good spot to go long HUI/gdx. I think there is a decent chance HUI will hit a multi-year bottom there. Then we just for spx/hui to take out the previous local bottom to confirm change of trend.
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jangseohee JohnKeverich
the same for GOLD
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JohnKeverich jangseohee
Looks like this rising channel will be tested soon
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2use JohnKeverich
How does it look like now`?
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@2use, i believe you are asking JohnKeverich?
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2use jangseohee
Yes, but i follow this idea as well :)
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It looks like a change of long-term trend
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jangseohee JohnKeverich
Good morning @JohnKeverich.
it looks like another head & shoulder!!!
i am expected a right shoulder
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JohnKeverich jangseohee
Possible, and it will be a great buying opportunity
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To the last update, - that is indeed an interesting congestion place.
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should go up base on the price action, until proven wrong
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Need inflation expectation to rise.... Judging by TIP, it is improving but not confirming yet.

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jangseohee CosmicDust
i have neglected this for quite sometime
there is another way to measure inflation/deflation
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and latest update

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IvanLabrie PRO jangseohee
Nice analysis.
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So HUI closed above previous swing high - hasn't happened in a long time. Paradigm change? Or perhaps the traders just overreacted to this week's dollar volatility?
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jangseohee JohnKeverich
Hui has been accumulation phase for past few months as can be seen from my channel bottom, i guess more upside after slight retracement
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JohnKeverich jangseohee
The interesting thing is gold and silver have yet to exceed October highs. This makes me reluctant to think that the metals have bottomed.

If they start consolidating at these levels, I'll start shorting.
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jangseohee JohnKeverich
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JohnKeverich jangseohee
I'm looking to buy DUST around 7-7.50
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