Goldtent TA Paradise

Rambus Late Friday Night Charts

1. Bikoo99 says:

   May 4, 2019 - 7:51 am at 7:51 am

   Thanks for the post.

   Since we are looking at the looong term chart: I see a massive inverted Head and shoulder

   2015-2016 double bottom as head. diamond on the left as the left shoulder and falling bullish wedge as right shoulder.

   • Fullgoldcrown says:

     May 4, 2019 - 7:59 am at 7:59 am

     There is the “Hope” trade Rambus is talking about as we sink ever lower .

     With respect Sir Bikoo. If that is a H and S Bottom…it sure is Ugly

     The right shoulder is not remotely proportionate to the left shoulder.

     I do “hope” you are right though

2. Tbone says:

   May 4, 2019 - 9:20 am at 9:20 am

   Great post. It just may be the coffee in the new morning, but Rambus gives a glint of reflection into his trading mind when he describes how he waits for the write time to get in for 2016 or for 2018. He’s talking about not getting the absolute bottom or rushing out when there’s a draw down. I really admire him for that. It’s easy to say, but it’s had to develop that kind of discipline.

   Was it a Freudian Slip when he says ‘relive’ or did he really mean ‘relieve’? He wrote: “still hoping the current downtrend is going to reverse pretty soon to relive the pressure that is growing with each passing day”

3. Curly Top says:

   May 4, 2019 - 9:51 am at 9:51 am

   Confused by something in the last chart. We reached a high of almost 81 on the XAU in Feb 2019 but the last chart with the oddly shaped head and shoulders shows the XAU consistently under 75 for 2019.

   http://schrts.co/rhHxWjwd

   • silver fox says:

     May 4, 2019 - 12:28 pm at 12:28 pm

     Its a monthly chart, Curly, so the chart will show the monthly closing price, not the monthly swing high.

     • silver fox says:

       May 4, 2019 - 12:34 pm at 12:34 pm

       I meant to write as monthly “line” chart.

       • Curly Top says:

         May 4, 2019 - 12:40 pm at 12:40 pm

         Thank you Silver Fox

4. Steins1 says:

   May 4, 2019 - 10:54 am at 10:54 am

   And then there are those of us that have just set aside some of they’re savings in the PM sector for a potential economic melt down.
   Maybe it doesn’t happen for a while or next week, but for me the hedge is there.
   Some of my PM stocks are down 50% or more, but I’ve routinely seen 20% – 30% moves in a day. I’m not necessarily saying I expect that all around, but if the sector is so beaten down, I do believe it will be pretty easy to make a big run at some point if and when the market takes off.
   For now my savings hedge is there.

5. neildavis2002 says:

   May 4, 2019 - 1:06 pm at 1:06 pm

   A few things here. I tend to believe that gold stocks are in a stealth bull market, and have been since January 2016. Why do I believe this? Well, the $XAU endured an 83% decline from 2011 to 2016. The GDXJ suffered an 89% decline during the same time frame. Such a decline over a 5 year period is of sufficient magnitude to crush most hopes and dreams, and convince most investors that gold is a dead asset, unworthy of serious investment portfolios.

   As you can tell, this negative sentiment still prevails today, despite the unquestionably impulsive price action in the gold miners from January 2016 to August 2016. The extended duration of the falling wedge consolidation since then has again killed any and all positive sentiment that may have been generated in the first half of 2016.

   The rally in gold stocks from September 2018 to February 2019, while not impulsive, did manage to breakout of the falling wedge pattern generated by the most popular and actively traded gold stock ETF in the market: the GDX. It is now backtesting the upper rail of that breakout.

   Also, the intermediate cycle low in gold has been due to take place over the past few weeks and may have completed this past Thursday. In fact, this intermediate gold cycle has been among the longest in years, so to believe that it will continue much longer is far fetched. In other words, from a cycle perspective, gold is due to rally now.