FX:XAUUSD   Gold / U.S. Dollar
178 16 5
For the grandkids.
Lol, I like your red count!
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@Dll, Still a monster trade coming assuming this year's rally was (A) of cir-A. This correction would be the (B) wave, typically nasty to trade. But the next move *should* be an impulsive (C) of cir-B to approximately the 100% extension of (A)-(B) .
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nick.holland78 PRO nick.holland78
@nick.holland78, I meant (A) of cir-B...
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Dll PRO nick.holland78
@nick.holland78, Yes, according to your (C) = (A) assumption. But it could end up with 61.8% of (A) which is about 1,415. Personally, I think this is more likely since it aligns better with technical analysis. Also, GDX is seemingly forming (W)-(X)-(Y) - more like a bear market rally (from this year). Loaded some GDX two days ago but plan to gradually sell and empty all once it reaches 31.
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@Dll, hi.. Could u post that GDX chart? Thanks :)
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Dll PRO webmiztriz
@webmiztriz, Not sure if you can see it.
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Dll PRO webmiztriz
@webmiztriz, I'm not sure whether the blue A-B-C should be W-X-Y. For me, (A) really looks like 3 waves.
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@Dll, thanx.. Ive been struggling with that count for months... Does look like A...3waves....
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@Dll, you (A) on GDX could be 3 waves, I had this pullback as a possible 4th wave initially. I've got another alternative where the GDX top is a 5-wave (1).
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@webmiztriz, I have GDX and HUI index ideas posted. Not sure how current, but within a few weeks I think. I expect miners are setting up a major bounce, possibly a 3rd wave rally.
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webmiztriz PRO nick.holland78
@nick.holland78, thanks.. will check those out. :o)
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@webmiztriz, HUI weekly below. This offers more price history than GDX or GDXJ, so therefore I believe its a better indication of the overall structure. Price came down right to the 61.8% retrace and bounced strongly.
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webmiztriz PRO nick.holland78
@nick.holland78, i like it ;o) i have been kind of working off this count ... but was having trouble .. some days i woke up and it was a perfect abc .. next day... and impulse w/ 5 waves.. lol
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nick.holland78 PRO nick.holland78
Updated to clarify log-based fib projection off the HUI wave I-II count.
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this is a masterpiece...... if only it would get it's butt in gear ;o) tx
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Getting very close. Note positive divergence holding on MACD. Need to see a strong impulsive reversal to signal this correction has completed.
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