See related ideas on trading Elliott Waves for suggestion on how to manage a long trade here. Stop below .50, or at least alert to reconsider...
There's a lot of flags right now being raised on miners. Even though gold has slowly crept up from its recent fall, miners on the other hand have not correlated with gold which should be seen as a red flag that the correction is not over. Also the nearing of the death cross should be taken seriously. With that being said, my bullish bias is telling me that bottom...
This past week we saw the gold minders rise into a wave iv of C topping at 25, followed by a sideways move that has yet to reveal its direction. This high could represent a nice topping area to make space for a last leg down as a wave v. However, the price movement this week could still see the GDX make a small move up to complete wave iv before resuming the...
We are nearing a bottom in the gold miners in the form of a wave 2 of the full wave 1 move up from the January low. The recent price movement on Friday gave us the setup for the final leg down as a v of C which can take the shape of a 5-wave impulsive move down or an ending diagonal. The bottom should be struck between the 50% and 61.8% retracement of the larger...
I'm seeing wave C possibly shaping up as an ending diagonal to complete wave 2 of the larger degree correction. If the price movement follows the blue count on the chart, we should be going down in 3 waves a-b-c to form a bottom around the 50% retracement of the larger impulsive wave 1 high of 52.50, potentially going a bit lower. This would be an excellent...
Harmony Gold is following the correction seen across the gold miners. I see two similar counts playing out over the next few weeks: Blue count: the whole wave C is an ending diagonal and we are currently in wave iv of the final move down. Red count: an alternative count would see us fall to lower lows beginning of next week to complete wave iii of C and then...
Miners have been a tough trade lately, especially for bulls like me that had become accustomed to shallow retraces. I'm treating this bounce as a corrective rally unless an impulsive move takes out HUI 286.05 strongly. Targets for yellow waves (3) through (5) will have to wait for confirmed completion of wave (2). White wave 3 of (3) could be expected to reach...
Miners are coiling up ready for a big movement. Coiling into a wedge with high volume. You can see a smaller version of this patter happened at the end of August. It was a bearish pattern then, and I think it is a bearish pattern again. Gold is going down and the Dollar is going up in anticipation of a rate hike. I have no position right now, but I am ready to...
Silver has consolidated nicely since July, and is now on a break-out path to the upside. Very nice POSITIVE technical energy supports the move. There should not be any problem for Silver to exceed its previous highs. Gold, steel, and miners will consolidate and move up as well, imo.
Looks like the former alt 1-2 played out. Not clear yet that this correction is complete, but a good add for long-term holds IF you're bullish miners. I've been adding miners like Seabridge all morning.
Minute wave ii could well be complete. IF so, then wave (i) of minute (circle) iii should reach higher toward the .618 extension (green line). Breaking down below micro support from here would look like an flat correction with the top of my green box up next. I'll post a shorter time frame within the comments.
Hi Everyone, hope you are all doing well. Glencore (GLEN) appears to be in a corrective structure so we are waiting for the sell setup. Stay tuned for updates as the trade become active.
I see gold medium target at 1540-1545 and decision point break might lead gold to next resistance 1800. failure would lead this to test LL 1045 whereas previous clone suggest the top at 2320
Copper seems to be reaching a critical point for the long term. I've updated my former chart giving as finished the drop (main count). In alternate count could be a final drop til ~1600 but I think the price is not going to go down the longterm trendline, so my main count is bullish
Gold seems to be headed for the two targets on chart, to be reached before September 23rd. This seems to match my outlook for equities, which appear to be heading back down to the yearly lows, as depicted by Tim West's yearly forecast, of a sideways market. We can fade the sentiment extremes once reached, which is the ideal trading strategy for the rest of the...
My research has led me to many places. One of them, has led me to follow the path that gold follows. In this quest for knowledge, I have met many individuals if which one of them has been of great help. Quant (TR), I thank you for everything, without your guidance it would have taken longer. Never said too much, but just enough to peak my curiosity. Now I...