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At first glance one would take a very bearish stance of the first chart assuming a backtest is taking place.. But seeing the convergence in chart 2 I think that could be the bridge that price uses to “break on through”. It’s the path of least resistance as ominous as it looks. Price had a similar experience in the early aughts where it crossed over on the apex.The indicators still look ready to roll up but granted these are monthlies. Apex exploration has always amazed me…see it over and over and it appears to be very strategic.
Wow Schiz
Looks like you found the spot where the Sh!t hits the fanlines
Let’s hope it takes advantage of the portal…the alternative is prob pretty ugly.
Once again, original and thought provoking work. Portal? Now there’s a fresh concept. (the word whizkid comes to mind)
I confess I don’t know where the PMs are going. To my way of thinking Chartology is suggesting a short term bear. Medium term bear, maybe.
But the PM market can turn on a dime. I was contemplating how the bear could get the goldbugs on the wrong side of the market, then whammo! pop right on up to $1500. There’s the answer – up through the portal ! In my mind’s eye I see an ascending triangle that makes up the right shoulder of the inverted SHS gold bottom, with the last reversal point a false break below the ascending trend line. Just a thought.
Thanks Fox, I’m looking for that dime on the 12th or 13th…and if that fails then this will probably be drawn out to around mid April if my timing is correct.
https://www.tradingview.com/x/VrQBJLeX/
Trust me, I’m surely not sitting here trying to make promises of ascension. The miners have been weak as hell, no 2 ways about it. The gaps in gdx have always bugged me.. I was hoping prices would just tank into the previously mentioned date and fill the gap at 19. Its time to shit or get off the pot.
I have had a bear scenario in my head too but never posted it…kind of looks like this tho.
https://stockcharts.com/h-sc/ui?s=$USD&p=M&yr=35&mn=0&dy=0&id=p65044286279&a=521374685&listNum=1
https://stockcharts.com/h-sc/ui?s=$GOLD&p=W&yr=20&mn=0&dy=0&id=p24470740774&a=560284132&listNum=1
https://stockcharts.com/h-sc/ui?s=$CRB&p=M&st=1955-07-17&en=today&id=p21473471450&a=523564004&listNum=1
I didn’t think the euro fit the same channel theory or AUDUSD.
https://stockcharts.com/h-sc/ui?s=$XEU&p=W&yr=30&mn=0&dy=0&id=p16017679405&a=516883655&listNum=1
Agree on the apex hit.
Below is the link to my latest Big Picture PM post, from Sept 2017, in which I write on the monthly EUR-chart (chart is at the beginning of this very comprehensive roadmap post):
https://goldtadise.com/?p=411879
“Looking for reverse symmetry up with red apex hit and after that circa 1,40 by early summer 2018.”
The Euro will probably hit this apex while the US dollar is in a very strong downward movement as it continues dropping through my long standing thin zone so let´s see if we get that pullback or not.
Fantastic work Schism. The terrible performance of the miners will only end once we make the next clear breakout taking us well beyond $1400 in my view. That’s going to happen in tandem with the dollar decline over the next few weeks I believe.
Thanks NS, the miners outperformed gold at a 6 to 1 clip on the first run. That was the most in hui’s history. So in hindsight a longer consolidation should be expected I guess. I haven’t been able to update bgmi data so historically I’m not sure how that run stacks up.