Goldtent TA Paradise

Enjoy.

Surf’s Up

The GDXJ 78% Fibonacci would be a good place for a turn.                                         

This is my 1000th chart on goldtadise. Following the discussion about Savage and Graddhy earlier on, I’ll be clear – I’m no gold bull. I follow the charts. If support goes on this log chart, my attention turns to the linear chart I posted a day or two ago. Support lies somewhere near $1250 on the ‘golden bowl’ and somewhere near $1220 on the long term uptrend line. Above that, I’m bullish. Below that, I’m out. False moves at pattern completions are common – a final ‘shake-out’ if you like. There’s no need to mock it – it’s a simple fact. I agree it’s foolish to hang on when the evidence is no longer there. I have plenty of respect for both of them, and anyone else who gives their work freely and openly. We all have a mind of our own, and can filter out whoever we wish. IF price advances up beyond the apex in the $1350 region, we have a false breakdown and an around the apex move. Feel free to ignore 😉

Look Promising

Cycle guys who are much smarter than me say we are very overdue for the yearly cycle decline. The intermediate cycle is relatively early, but I think the resistance shown on the above chart may provide the impetus for the dollar to roll over into a failed daily cycle, initiating the intermediate cycle decline and yearly cycle decline. Things could get interesting soon.  I’d love to see the EURUSD print a quick failed daily cycle today or tomorrow to reset the intermediate cycle, aligning with my view that the USD intermediate cycle tops here.

Hope everyone is well, and thanks to those that comment on my posts, I know I have not been very good about reciprocating lately.  Cheers.

*Update: The EURUSD just printed a failed daily cycle, resetting the intermediate cycle, which is on week 27 so within the timing band for its ICL. Its IC also failed, its third consecutive failed IC, so could be the YCL as well. Time will tell.

How about the worlds most populous nation…

Not here either…

Not here…

Didn’t think it would happen but support held and recaptured the yellow trend line… This is probably going to decide the next move via triangle. I’ll just shut my mouth until we have confirmation. Lol.

White support is clearly massive.