Finishing a harmonic ABCD move at structural resistance seems to be in the cards.
The structural support and trend lines comes in between the 78.6 & 88,6 fib ...Could be making a hammer here going for the lowest fib and bounce!?!
Safe trading Ladies and Gents!
@BLawrence (I have often a quicker running updates on my Twitter account)
Music at...
Gold seems to be making either a 3 drive to a bottom harmonic pattern or a harmonic butterfly.
In case of the 3 drive to a bottom - the bounce area is the 61.8 fib retrace
The butterfly is in a conservative view to bounce for the 78,6 fib retrace at 1554.... but could if gold bugs is in ecstasy go as high as the 88.6 fib retrace at 1725
Safe trading ladies and...
This bad girl (Goldilocks) is getting ready to fly. Per our past posts we had been leaning long and carried a small position for the last 2 weeks. We have exited that position because this coil is getting tighter. We are expecting her to explode soon and we expect a large move. We are watching for a trigger on a lower time frame and will join in when a level...
OK...we have tested the break out area and are trying to move higher. If you pull up a weekly chart you will see that we are coiling and like CL1! it could get whippy. These are tough markets to navigate...either use small size or BE PATIENT. We are long GC1! with small size.
Miners working on a bullish engulfing week so far and a right shoulder against the metal.
If symmetry is any guide, hints that we will have maybe another month spend in this bottoming IH&S formation.
Cheers
P
The piercing line candle in the Juniors/Large miners got confirmation and the NUGT trade opened.
Needs a lot of work, as PM complex is in a downtrend, but the chart present a possible ABCD, a C&H pattern, a falling bullish wedge that is about to break and everybody I know or I read is bearish or short gold and miner stocks.
A lot, and I mean a lot of junior...
