How low do we go before the recent uptrend is seen as a ABC correction and not the main trend? And would you have to revisit the latest downtrend that you viewed as a ABC correction? Seems like you can see either an ABC pattern or a five wave pattern in the downtrend from 8-13 April that you view as corrective. Seems to me that until we break 1760 April 8th high we are not sure which way we are going in the short term.
How to you explain the large divergence between Gold and the GDX today? Over the last months (maybe longer?) GDX appears to be a leading indicator for the future direction of Gold. Does GDX up today when Gold is way down concern you?
Love your work...Just signed up as a subscriber. Fascinated by your use of the Apex triangle. Read you explanation of the website. Can you point me to more information on its use? Thanks in advance
I don't think the USD's bottom is in with this cycle. I Think that we should use price and time when comparing thses two cycles. USD's 2017/18 down and base cycle was much longer than your currently defined 2019/2020 cycle. USD in 2017/18 took her time retesting the steep downward channel she broke in Oct 2018, before basing and finally moving up and out in April 2018. 50 MA was falsely breached in Oct 2017. Don't think the break of this MA confirms a bottom. If we are comparing I see the Oct 17 countertrend rally being similar to the Feb 2021 swing up. We shall see.
Great video. On the 4 hour chart I see us at wave 4 of this up move? If this is what you see as well...thoughts on the price target for wave 5...I was thinking 1760...thoughts
Long term (Greater than 2 years...weekly chart), we bottomed in 2016. Medium term (Greater than 1 year...daily chart) we bottomed in Mar 2020. Short term (Less than 6 months 4 hour chart), we have not bottomed. Since Jan we have hit up against a well defined downward channel (shown on Daily and Hourly charts...days 1/29, 2/10, and 2/24), and have failed. Today that top part of channel sits at around 1800. The bottom part of the channel has been violated to the downside. Until we clear the upper line of this corrective channel we cannot say we have a short term bottom. The real question is what is the short term bottom price target and when will we get there. Options expiration next week has been a bloodbath this year for Gold. Short squeezes on highly shorted stocks seems to have also quietly picked up again (GameStop at 265). Options week will be interesting. Will Gold shorts panic and attempt to push the market down to get out of their highly leveraged short positions? I would not be long next week. As to a (short term) bottom.. I vote 61% retracement (measured from the 2018 lows to Jan 2021 High) around 1536. I think a major chunk of this will come next week. Then up from there
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Gold Technical Analysis - Wednesday, June 16
still buying this dip?
Technical Analysis: Gold XAU/USD
How low do we go before the recent uptrend is seen as a ABC correction and not the main trend? And would you have to revisit the latest downtrend that you viewed as a ABC correction? Seems like you can see either an ABC pattern or a five wave pattern in the downtrend from 8-13 April that you view as corrective. Seems to me that until we break 1760 April 8th high we are not sure which way we are going in the short term.
A Climbing USDX Means Gold Investors Should Care
How to you explain the large divergence between Gold and the GDX today? Over the last months (maybe longer?) GDX appears to be a leading indicator for the future direction of Gold. Does GDX up today when Gold is way down concern you?
Looking At Gold's And Miners’ Next Moves
Love your work...Just signed up as a subscriber. Fascinated by your use of the Apex triangle. Read you explanation of the website. Can you point me to more information on its use? Thanks in advance
Looking At Gold's And Miners’ Next Moves
Is there a price or time point that validates or invalidates your position?
History Rhymes: Does USDX’s Uprising Mean Gold’s Climax?
I don't think the USD's bottom is in with this cycle. I Think that we should use price and time when comparing thses two cycles. USD's 2017/18 down and base cycle was much longer than your currently defined 2019/2020 cycle. USD in 2017/18 took her time retesting the steep downward channel she broke in Oct 2018, before basing and finally moving up and out in April 2018. 50 MA was falsely breached in Oct 2017. Don't think the break of this MA confirms a bottom. If we are comparing I see the Oct 17 countertrend rally being similar to the Feb 2021 swing up. We shall see.
Gold & Silver Technical Analysis For Wednesday, March 10
Great video. On the 4 hour chart I see us at wave 4 of this up move? If this is what you see as well...thoughts on the price target for wave 5...I was thinking 1760...thoughts
Gold, Miners: How Long Will Short-Term Rally Last?
Long term (Greater than 2 years...weekly chart), we bottomed in 2016. Medium term (Greater than 1 year...daily chart) we bottomed in Mar 2020. Short term (Less than 6 months 4 hour chart), we have not bottomed. Since Jan we have hit up against a well defined downward channel (shown on Daily and Hourly charts...days 1/29, 2/10, and 2/24), and have failed. Today that top part of channel sits at around 1800. The bottom part of the channel has been violated to the downside. Until we clear the upper line of this corrective channel we cannot say we have a short term bottom. The real question is what is the short term bottom price target and when will we get there. Options expiration next week has been a bloodbath this year for Gold. Short squeezes on highly shorted stocks seems to have also quietly picked up again (GameStop at 265). Options week will be interesting. Will Gold shorts panic and attempt to push the market down to get out of their highly leveraged short positions? I would not be long next week. As to a (short term) bottom.. I vote 61% retracement (measured from the 2018 lows to Jan 2021 High) around 1536. I think a major chunk of this will come next week. Then up from there