Goldtent TA Paradise

So Whacha all think ?

1. JSKauai says:

   April 4, 2019 - 11:43 pm at 11:43 pm

   IMO. we are headed down to complete the C wave, which is an abc move. IMO we are in the sub wave b and then the final move sub c to complete the correction. Aloha all

2. norvast says:

   April 5, 2019 - 4:31 am at 4:31 am

   The USD should re-test 97.71 ($DXY) which will force gold down to it’s DCL/ICL

   It has already failed (GCY00) but remains right translated.

   Miners will follow but lead the rebound in maybe a week’s time.

   Too early for the DCL/ICL

   • Wazcam says:

     April 5, 2019 - 7:24 am at 7:24 am

     Norvast, thank you for your thoughts. Been looking out for your view for a while! Have you semi-retired!? Lot of people proclaiming the ‘bottom’ is in, which leaves me skeptical to put anything on the long side. The move into the ICL has been very good for me. Targeting the 200 day around 1250, slight undercut to 1245. Thoughts?

     • norvast says:

       April 5, 2019 - 8:08 am at 8:08 am

       No I have NOT semi retired!

       I work in the construction industry (civil engineer) and have been working in a remote part of AUS with almost no internet so I have to apologise for my absence. Plenty of flies and heat to test my spirits!

       Generally the last daily cycle into an ICL is left translated and failed and is often a drawn out affair.

       The current daily cycle has failed but remains right translated.

       The current cycle peaked on calendar day 20 so for this daily cycle to be left translated we need to be looking around 14 Apr or beyond for the DCL

       I suspect the DCH in the first daily cycle out of the ICL will be around 17+ May so coming back 29-34 calendar days places us late next week-early the following for an ICL

       The miners will lead so keep an eye on the lead producers like NCM.AX, also NUGT which is only on calendar day 31 and almost always prints a DCL 34-42 calendar days.

       Next week is week 34 in the weekly cycle so we are well & truly extended.

       Remember the trend is UP so the ICL provides an excellent buying opportunity to again seek out some quality producers.

       IMO we are still 12 months away from the peak in stocks (despite the yield curve inverting on 22 Mar) BUT investors are getting nervous about a mid cycle correction in stocks and are probably hedging their bets by seeking out quality gold miners.

       Just aside GBTC is often a good guide to a low in gold & it is about to seriously back-test the recent lows.

       • Wazcam says:

         April 5, 2019 - 10:07 am at 10:07 am

         Thanks for the lengthy reply Norvast. Very detailed. From what you have said you don’t think the ICL is already in? What do you make of the sharp buying at support over the last two days. Enough to make anyone who was bearish vomit in their underwear. What are your targets?

         • norvast says:

           April 5, 2019 - 7:08 pm at 7:08 pm

           I think the ICL is at least a week away and I don’t have a target.

           Check out the YEN. It is on calendar day 31 in week 26.

           We all thought 05 Mar was the ICL but the current daily cycle topped on day 20 (too early) and is now very close to failing to extend the ICL

           An ICL is normally marked by a left translated failed daily cycle so for it to be left translated the ICL must be beyond 05 Mar plus 40 calendar days = 14 Apr

3. Trekker says:

   April 5, 2019 - 8:00 am at 8:00 am

   Need u ask Fully? Just licking our wounds. Most of us are just ” very stupid people ” Definition of jackass