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Long term chart of Aussie dollar. Wave B is an expanded flat which is at target. C equals A at about 84 cents which is also the 38.2% retracement level and the TL resistance area. Gold and commodities generally could run to that target area. Here is a Gann perspective
http://www.gunner24.com/newsletter-archive/july-2018/29072018/
A weekly close under 71 cents would set up a 65 cent target and end of year time frame so the turn really has to happen quickly
We need to be a little guarded here because, despite the recent and rapid fall, the 20 month SMA is about to cross above the 50 month SMA on the long term chart.
Every time that has happened in the past the AUD has entered a period of extended advance.
It would, on this occasion, coincide with the 20 month SMA crossing below the 50 month SMA for the USD
An early ICL is NOT out the question!
There is likely to be one final flush in gold. This may be as a result of M.E. tension, trade issues or some other news related item. However it looks to me like a low will arrive in 1-2 weeks. Any spike down in gold from here is a gift IMO
and I lean towards your MA discovery
As a WD Gann enthusiast the Gunner report is a must read.
Thanks Ranchida!
A Sep ICL (see above comments) would give some nice Fibonacci triangulation from the 2009 low – refer Gunner’s first chart.
http://www.gunner24.com/newsletter-archive/july-2018/29072018/
A 34/89/123 month Fibonacci triangle.
From the Gunner report…
“Since after the downtrend week Fib No 21 new lows were marked, the downtrend could continue until the next pending Fib number, which is the 34. The potential downtrend week # 34 falls in the September 10-14.”
Using another Gann analysis we have a pivot date of 15 Sep
Bradley date 17 Sep
The last DCL for GDX was 16 Aug so an ICL this coming week would mean a short daily cycle around 29 calendar days BUT I suspect sellers are running short at the moment.
The last DCL for the USD was 28 Aug so a DCH late this coming week would be around calendar day 16 when we would normally expect a DCH for the USD as this is the last daily cycle before heading lower into an ICL and should be left translated and fail.
gann fanned silver and 13.50 looks like the spot
Yes I’m expecting a final spike down on the metals maybe this week, so this would be a reasonable target