Goldtent TA Paradise

GDX Bear Flag?

1. KenS says:

   March 25, 2019 - 10:56 pm at 10:56 pm

   What you have drawn is known as a contracting triangle in Elliott Wave terms. They use A B C D E instead of the numbers, but the idea is the same.

   Another principle of a contracting triangle is that it is always the next to last wave in the next larger pattern.

   • Schism says:

     March 26, 2019 - 10:09 am at 10:09 am

     Thanks Ken, that premise fits a couple different scenarios I’m tracking.

2. Northstar says:

   March 26, 2019 - 4:31 am at 4:31 am

   Possibly, but Fed policy error has increased the likelihood that the PM bull gets going sooner rather than later.

   • Schism says:

     March 26, 2019 - 10:24 am at 10:24 am

     Fed comments change on the daily…so i discount all that. I spend most of my time studying time and fed meetings are almost always woven into the fabric seamlessly. I was as bullish as anybody early in the cycle but gold has not taken advantage of its open window. I believe the window has roughly a year and a half to stay open which tells me its not going to make a bigger move until 34-38 weeks until the end of bigger cycle.