Goldtent TA Paradise

I Wanna Be a Bull

1. silver fox says:

   July 10, 2018 - 7:40 pm at 7:40 pm

   That, my friend, is a most unwelcome SHS pattern in the Japanese currency – complete with break down and BT to the neck line. The neckline is up sloping, the left and right shoulder heights are equal, and both shoulders have an almost identical sibling along for the ride. Beautiful symmetry, if one might admire symmetry in the midst of chaos.
   YEN and GOLD have not uncoupled on a daily chart, so this is a big fat warning for the Gold bull case. Not running for the hills yet, but I did pack my rucksack. Your thoughts, Sir Fully?

   • norvast says:

     July 10, 2018 - 9:25 pm at 9:25 pm

     As you know silver fox I have been warning for a couple of weeks that either gold has NOT hosted an ICL or the current low will be tested.

     The AUS miners continue lower today making their way toward a DCL which I do not expect until next week at the earliest.

     Historically the AUS miners closely follow gold so one can only conclude that there is more downside for gold.

     Meanwhile the AUD is again moving lower. Will t extend the daily cycle?

     • silver fox says:

       July 10, 2018 - 9:59 pm at 9:59 pm

       Yes, I do recall the warning. Thank you, Norvast.

   • Fullgoldcrown says:

     July 10, 2018 - 11:22 pm at 11:22 pm

     I posted this then had to run

     Now I see Silver Fox …you scooped me with your post below.

     My Thoughts ?

     Chaos is a great word right now…The HUi Gold ratio and Silver Gold ratio have looked bullish….but there is NO Umph yet.

     I think we are doomed to wander in the wilderness for a while longer.

     sheesh

     • Highroller says:

       July 11, 2018 - 10:39 am at 10:39 am

       yup, scanned the weekly and monthly settings on most and more downside, only a few chuggers like first maj, wesdome, royal gold, agnico trying

2. norvast says:

   July 10, 2018 - 9:34 pm at 9:34 pm

   FXY is on calendar day 50 in it’s current daily cycle so plenty of time to move lower, but what is interesting is that the current daily cycle has failed.

   Either the weekly cycle has been extended to 36 weeks or the first daily cycle out of the 21 May ICL has failed which is NOT a prospect I want to entertain right now!

3. red label says:

   July 10, 2018 - 9:43 pm at 9:43 pm

   Cycles work until they don’t. Correlations work until they don’t. Trends work until they stop being your friend. Charts work at whithin how much accuracy? Elliot Wave accuracy..? The thing I respect about EW the practitioners accept these facts and question the past & future.

   I’ve using charts combining both of Euro $US and sometimes CNY. The brief time I’ve been using them have negated several false signals fwiw?

   I’d like to post a few but would like too have a little more feel of the charts first. Would much appreciate more experienced chartologist looking at what I’ve been using…..

4. Simon says:

   July 11, 2018 - 12:12 am at 12:12 am

   Good comments red label. Seems like a lot of cycle-based predictions have failed lately, and a lot of EW counts revised after the fact to conform to what actually happened. They can be useful tools, but perhaps less so lately.

5. norvast says:

   July 11, 2018 - 4:16 am at 4:16 am

   Steady on chaps!

   One of the wonderful things about this forum that I respect is it’s willingness to accommodate lots of views and methodologies in our efforts to determine the future direction of the precious metals.

   Members come to the table with Chartology, Cycle Analysis, Elliot Wave Theory, TA, WD Gann time counts, some Astrology etc etc

   I reserve the most respect for those members who put their balls on the line with well presented determinations and explanations. Sure sometimes they lose them but I admire their position.

   I have never seen anyone present a full proof method, which is stating the obvious, because we would all be following it and this would NOT be a free site!

   Personally I have done exceptionally well since adopting Bressert Cycle Analysis as my preferred tool for stocks and PM’s. That is not to say it is better than any other method but it suits my “time” and “price” approach.

   This is a complex game we play and I am happy to accept any well constructed advice to improve my results, but I am loathe to criticise members contributions unless it is constructed around an obvious false premise!

   • Steins1 says:

     July 11, 2018 - 9:48 am at 9:48 am

     Thanks Norvast, I rely on the direction here along with others and I hate it when you guys are negative because of course I want things to go the way I want them to! :-)…..but I listen and appreciate it very much!

6. winedoc says:

   July 11, 2018 - 4:46 pm at 4:46 pm

   2 posts all day…..

   ? am I still early ??

   Winedoc