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Gold could go a bit lower but shows clean oversold upcross on 8h oscillator. 16h oscillator about to upcross as well without reaching fully oversold.
Fractal composite ribbons are turning up from downtrend, preparing for divergent higher lows?
Silver could still go a bit lower but we already have a clean oversold upcross on the 8h oscillator. 16h oscillator looks to turn up before reaching fully oversold.
Fractal ribbon composites have popped out of their downtrend ready to make divergent higher lows.
We're at a great juncture on GDX for illustrating how Fractal Resonance Oscillators can help confirm a particular Elliott-wave structure. This is Avi Gilburt's primary count on elliottwavetrader.net and (for now) it perfectly matches the oscillator states across all 8 timescales.
Notice the upcross on 15-minute oscillators coincident with the little bounce at...
Over past 4 days S&P has obviously formed an ABCDE triangle. Note how this has caused the upper 5 timescales of wave trend oscillators from 15 minute to 4 hour to settle into 'neutral' near 0 midline. This fractal oscillator behavior is typical for triangles, AKIN to a Bollinger Band squeeze? This oscillator signature preceded a dramatic 10-15% decline in gold...
rwilday noticed some good scalp buys this week from Fractal Resonance Composite lines on a 30 minute ZB chart and (facetiously) asked if it was time to buy big. In this case the 30-minute chart gives too narrow a view, but we can find the dominant timescale candidate on the 8H chart's 128H oscillator (FR_COMPONENT timescale multiplier=16). It's lead line is -87%...
Blue circles mark some of the key crossovers on GDX this fall that multiple timescale heuristics can help filter out.\
Down arrows demonstrate how to anticipate oscillator embedding in strong trends by looking for already overbought/sold lead lines in row below.
Fractal Resonance Bar (to be published) automatically marks deeply embedded rows with white stripes.
The ending diagonal triangle that started Nov. 1st with Comey letter seems to be mirrored by this week's final? surge. Multi-scale wave trend Fractal Resonance Components show mirrored embedding patterns (gold ellipses) on the 2-4-hour and 8-hour (30min*16) oscillators. The 8-hour oscillator gave the most clearly profitable buy signal Nov. 4th.
The down arrows...
That's right, multiple timescale fractal analysis on wave trend oscillators. In this case, the bottom row 8-day oscillator for GDX gave a crossover buy signal in mid-September 2015 that didn't roll over as overbought sell until August 2016 for a gain > 100%. Oscillators on all timescales shorter than 8 days embedded with hundreds of premature sell signals to choose from!