Loading ...Gold – EWave Perspective
Saw this chart in an article posted last night on barcharts.com. This price action may have unfolded today. A set up for an impulsive move down. I’m not a big Ewave follower but this matches up with my gap fill and downtrend resistance scenarios pretty neatly.
how did that workout for today? they can draw an arrow anywhere they want …g…
God goes up until the HUI gaps at 128, 135, 140 get filled.
Thats another 5-17 points up
Target 1: 1141
Target 2: 1155
Target 3: 1171
the guy who constructed the chart last night opined: “Gold May face Resistance Soon – Gold is slow and sideways, so looks like that new swing high is coming for even more extended wave c then on the first place. We see subwave five of c in play for 1135/1140 area before market can sell off for a new low with impulsive price action. For now wave four is still unfolding, so looks like we have to wait longer time for a bearish price move.” (Note: I suspect English isn’t his first language). My point is that price has moved into his objective range AND the miners are hitting resistance that have been highly reliable sell points for years now.
http://schrts.co/wHkgIs
I’m seeing recurring themes in all of these GDX components:
GG http://schrts.co/9WXKlx
GDX http://schrts.co/6xNCme
AEM http://schrts.co/UGhomf
AU http://schrts.co/Fx8CUV
FNV http://schrts.co/q9khTM
GOLD http://schrts.co/JkF7PZ
NEM http://schrts.co/tXdC38
RGLD http://schrts.co/ovIkM1
What a tremendous compilation of evidence…Thanks.
it might go up or down lol..
ps weekly signal says up until price reverses…price rules
and gold prices have dropped almost 50% in a downtrend that has been in control since 2011. Selling resistance is the easiest way to make money….not trying to get cute on the countertrend rallies. Trend rules. Of course I’m not trading for a living a booking profits daily or weekly to pay the pay the bills so yes, there are different styles for different timeframes. I just want to catch the meat of the moves.