Goldtent TA Paradise

Gold

1. Surf City says:

   May 15, 2018 - 5:17 pm at 5:17 pm

   Gold’s longer Intermediate Cycle is at 5 months and is in the early part of my cycle timing band to find a ICL BUT its shorter cycle is only on Day 10 now and my normal timing band for its shorter Trading or Daily Cycles is 22-29 days so unless we get a very short Trading Cycle we could be looking at late May to mid-June.

   Nothing usually goes in straight line so I am expecting a counter trend rally to backtest near 1305 to 1312. Time will Tell but the 200ma is at 1307 and the 10ma is at 1312 so those are possible backtest levels before the final drop into what I expect to be Gold’s longer term Intermediate Cycle Low (ICL)

   • Wazcam says:

     May 15, 2018 - 5:37 pm at 5:37 pm

     I’m with Surf on this regarding the ICL is due…however I diverge on this:

     I feel the C down is nearing completion. – Wave wise its a clear 5 wave move down so far, we are in the 5th wave clear as day, within the 4th wave of that. Once that is complete a final push down to the trendline.

     Chartology wise. I didnt buy the flag. It looked pretty, however, I am liking the view of an IHS instead. There has been damage today, however if we chop sideways, have a down day and reverse with a long lower wick, and start on up again, that will be a nicer look to it.

     Something I was thinking about. Friday we will have the COT’s for the week (Based on action for today) – I feel there is a great chance Longs were added by Commercials today, into the selling they will be buying. Something to mull…Tuesday price actions.

2. Highroller says:

   May 15, 2018 - 10:42 pm at 10:42 pm

   Armstrong has may 21 a benchmark target, whatever that means. Maybe a low target point or its’ supposed to pass 1360 level, who knows.