anyone with strong opinion on Gold?
- #20,322
- Dec 10, 2015 3:42am Dec 10, 2015 3:42am
- | Joined Jun 2013 | Status: Trader | 1,144 Posts
anyone with strong opinion on Gold?
-redbox:
Supply still heavy and need to be absorbed further ... buyers absorbing supply atm.
-bluebox:
I think this area need to be tested again before up-move could continue and break resistance above redbox area.
- #20,324
- Dec 10, 2015 10:40am Dec 10, 2015 10:40am
- Joined Mar 2012 | Status: turning probability into profit | 1,550 Posts
Hunting High and Low
- #20,325
- Dec 10, 2015 12:20pm Dec 10, 2015 12:20pm
- Joined Mar 2012 | Status: turning probability into profit | 1,550 Posts
Hunting High and Low
- #20,326
- Dec 10, 2015 10:08pm Dec 10, 2015 10:08pm
- | Joined Jun 2013 | Status: Trader | 1,144 Posts
Any thoughts? Best, D.P. {image}
EU H4:
- #20,327
- Dec 10, 2015 10:59pm Dec 10, 2015 10:59pm
- Joined Mar 2012 | Status: turning probability into profit | 1,550 Posts
Hunting High and Low
- #20,329
- Dec 11, 2015 12:20am Dec 11, 2015 12:20am
- Joined Jun 2010 | Status: zero | 20,603 Posts
{quote} -redbox: Supply still heavy and need to be absorbed further ... buyers absorbing supply atm. -bluebox: I think this area need to be tested again before up-move could continue and break resistance above redbox area. {image}
thanks my friend
In the bigger scheme I think, that we are in an ending diagonal situation. The 1191.x top marked the end of the wave 4.
Since that top we have seen an impulse down. That would then be wave A of the ABC wave 5
The wave B of the wave 5 may reach to the 1102 to 1136 level (38,2 and 61,8 fib retracement). So far, the waves up inside of the whole ending diagonal have always retraced at least 50%.
After that, I expect a last impulse down into the roughly 1020 area (sharp), or up to 995 (more kind of an ending diagonal C wave)
Right now we have only 17% Gold bulls left. At the very bottom we had only 3 or 5% bulls left. Then, when price started to climb a few days back, sentiment rose to nearly 30% bulls
When price falls a little bit more from here, as Andex suggested, we surly have the whole crowd positioned short again, and the rise could start again fairly explosive.
- #20,334
- Dec 11, 2015 3:00am Dec 11, 2015 3:00am
- Joined Nov 2012 | Status: Trader | 12,211 Posts
Nice play could be aswell GJ H4 on downside. Looking to short.
- #20,339
- Dec 11, 2015 9:32am Dec 11, 2015 9:32am
- Joined Jun 2010 | Status: zero | 20,603 Posts
{quote} here are the counts including historical count of USOil http://singulorum001.blogspot.de/sea...%20long%20term when we look at the last three waves down from the around 51, we see, that the first and second wave down are nearly equal Unfortunately, the second wave up reaches in territory of the first wave down. The first wave down looks like an ABC. The second wave down looks more impulsive. Also, so far, the third wave down, looks impulsive. So idea at the moment is, that the second and third wave down is an ABC for...
{quote} ups, wrong chart and no-one is complaining{image}
currently I am eyeing 35.50