Behold the rarely seen "Gold Mushroom"™️ ©️ pattern! Some mushrooms are poisonous! Be careful out here! Always consult with professional mushroom pickers!
Gold got stuck in an extended consolidation of wave 4, which shapes double three WXY. The completion of the last wave Y down is expected at the low of wave W around $1658. Then the last wave 5 , that was widely expected long ago could kick off finally. The target area is highlighted with a blue box between 1805 and 1921.
The Breakout is confirming as a Trading Range formed with low volumes during the past few weeks. Following a few weeks of low activity, very-large volumes were registered today. Price is heading toward the next Resistance of the upper Ranging Channel at $7.8. This movement could very easily push the price all the way to the next Resistance at $8.0 to a new...
Wave 4 emerged as triangle ABCDE. The price broke above the BD trendline / upside of the triangle. Target is between 1860 (Fib based) and 1880 (simple upside of trend channel).
Long Gold stocks HUI and short Financial XLF ratio close to 15 level breakout. Above and we are off to the races. Note the post 2008 crisis long term outperformance.
Triangle broke, sentiment hot, buying pullbacks $GDX, $GDXJ, $SIL
NYSE:CDE is one of the most volatile ideas in the gold mining space. So if enetered correctly it offers relatively quick and attractive rewards. Currently idea is retesting major support level, through which it broken up in early November. And if uptrend is to continue in this miner, should not go much lower than current spot. I am entering with idea to hold it...
I combined both H&S pattern with EW analysis. On EW side we see the 1st impulse down and now we are in a pullback ABC. The C wave is pending. It is probably the initial move down in gold within a huge drop down at least we could see 1200 again and it depends on what structure would unfold then. Pattern is simple and we should watch the breakdown of the...
Falling wedge at decade old channel line $GC_F, $GDX, $GDXJ
Gold was falling for a long time without a good pullback. Now we are in that very corrective move as metal rebounded strongly from the 1180 area. C=A around the area of the earlier low (1237), this is how amazingly the simple geometry works.
Gold drops below the triangular consolidation. Target 1123 (just above earlier low) Stop 1212 (just above wave E) Entry 1196 (current) Risk/reward 4.56
Following the negative trend in Gold the HUI index has lost 27% within 2 months approx. It has left the negative trend channel to the bottom, forming a new and tighter trend channel (red). But also this pattern has been broken. And now the index has entered a diamond pattern, which is a reversal pattern. As Gold and Silver also are signalling more strengt, it...
Silver market was undermined with a notorious Flash Crash occurred last summer. The chart structure was spoiled but at the end of the day if we have enough patience to wait until dust settles we could see the clear picture again. I spotted for you both the blue downtrend and the yellow triangle pattern in the wave X on the chart. It looks like we can gain from...
At confluence support area $HUI, $GDX, $GDXJ
The Index swings within a negative trend channel. It rebounded on the lower limit of the channel, also the fib retracement 38.2% (170). Since march 18 it climbed with little steps to the next resistance - a falling trend line, that is coming from june 2011. This had to be broken - what happened - to confirm the positive move. The trend line is now support and has...
HUI has fallen from the upper limit of the descending trend channel to its lower limit. It rebounced on the lower level and now has rosen above the long descending trend channel - this is a good sign. If gold and silver don´t get weaker than they are actaully then we´ve got good chances that the HUI - Index will test the upper limit of the trend channel. Dollar...
As time goes by the picture gets clearer and I think the map has changed as we have another wave to the upside pending (wave C). Contracting flat has been completed in wave B and we have first wave up and a retracement in wave 2. It could drop deeper to the area highlighted with an orange box (1286-1265). It could be better to long there. Minimum target where C=A...