Goldtent TA Paradise

Is THIS a Breakout ?

1. norvast says:

   August 10, 2018 - 1:51 am at 1:51 am

   Yes it is!

   So I better update everyone on the action from “Down-Under” and the impact of the higher USD on the AUD

   If the AUD breaks lower here than the 02 Jul low then it will host a DCL and push the ICL out to week 35 (this week) or week 36 (next week)

   The move lower by the AUD today has given me hope that a low is very close for the AUD and gold.

   At last some action, and a clear pointer!

   So depending what happens today 10 Aug or Mon 13 Aug then we may see a DCH for the USD, a DCL (ICL?) for the AUD and an ICL for gold.

   • norvast says:

     August 10, 2018 - 4:14 am at 4:14 am

     The AUD has now well & truly broken below the 02 Jul low.

2. norvast says:

   August 10, 2018 - 4:06 am at 4:06 am

   For the USD I have 26 Jul labelled as a HCL and possibly 10 Aug a DCH

   I now think that the intermediate cycle (weekly cycle) will continue by another 6-8 weeks to allow time for a left translated daily cycle to fail leading to the ICL

   If that analysis is correct then the USD will head lower from here into a DCL.

   It is currently on calendar day 32 so it has another 10+ calendar days to find a DCL around 22-23 Aug

   Then another left translated, failed daily cycle and ICL

3. DaveintheUK says:

   August 10, 2018 - 8:41 am at 8:41 am

   It might be the breakout…
   I reca

   • DaveintheUK says:

     August 10, 2018 - 8:47 am at 8:47 am

     What happened there? Anyway I recall that the point and figure chart (even the typical 3 box reversal one on stockcharts.com gallery view) had a pattern in late 2013 with a target of 102.0. This reversed early in 2014 to a brief period with a target of 75.0 and then reversed again to a target of 101-102. This was fascinating because it was the precursor to a dollar move up to where? 101! And then later 103.
     The P&F chart of the dollar right now is not showing up anything that interesting but this is lateer in the bull market (or after the top perhaps). That previous P&F indicator was truly amazing. It told us in no uncertain terms that the dollar was going to break out (and bigtime) when it was languishing with the USDX around 79. The move of course was a good +25% from circa 80 to over 100.
     I had one of those friends, a Johnny come lately gold/silverbug, who was telling me the dollar was going to collapse and maybe he was going to buy 3 tonnes of silver at $18-20 in early 2014. Well, good luck with that one!! HAd I been a financial advisor I would have pointed him to the silver chart from 1980-2011 and said he could have picked up silver really cheap at 5$ in 1982 after the fall from $50 in 1980 and he could have sold it at $5 in 2002 and got his money back!