Goldtent TA Paradise

$1330-$1400 Gold

1. Patrick says:

   October 1, 2019 - 3:33 pm at 3:33 pm

   I’m looking at a low point 6% above 12 month moving average. If we pulled back today, that brings us to ~1420. The furthur in time we push this pullback to the 6% ark.. well the print at that point will be higher. https://goldtadise.com/?p=449908#comments

   • Northstar says:

     October 1, 2019 - 3:38 pm at 3:38 pm

     Thanks Patrick. That sounds perfectly reasonable. Enjoying your posts by the way 🙂

     • Patrick says:

       October 1, 2019 - 4:14 pm at 4:14 pm

       Thanks. Feeling is mutual.
       The art of maintaining a long running bull run is not getting too far away from the 12 month sma… but also not getting too close. You want that angle of ascent to be stable and maintainable. Don’t want to give reasons for bears to over-sell into too much strength (parabolic move, which when broken requires a lot of time to repair via consolidation) and don’t want the bears to start over-selling when they see too much weakness, breaking down through technicals that justified being long in the first place (then bulls also start selling). Indeed, it’s a constant effort to remain a tight-wire act, and never a high-wire one! Stable volatility is a prime characteristic of a long lasting run… Enjoying each moment.

       • Northstar says:

         October 1, 2019 - 5:02 pm at 5:02 pm

         Very well explained, I agree.

2. tshannon78 says:

   October 1, 2019 - 3:38 pm at 3:38 pm

   Northstar, I’ve been a Rambus sub for years and have been pretty active on the Forum but have only been an observer on the Tent until now. Before I comment, I want to say how much I appreciate your very insightful, concise and cogent charts and commentary. I also sense a true gentleman behind your screen name and that actually matters to me.

   Now for my comment. With apologies to those brave souls holding through this pullback, I agree that a deeper pullback is just what we need. I tend to think a pullback in gold futures to the 1380 breakout is all we might get, but it wouldn’t surprise me at all if we get a washout to 1330 which as you say would truly reset optimism. That would be the 78.6% Fib retrace. Also, there is usually a 5-7 day “bloodbath” phase at the end of an ICL, which I think there is very little doubt we are in now.

   Thanks again for sharing so much of your great work.

   • Northstar says:

     October 1, 2019 - 5:05 pm at 5:05 pm

     Hi tshannon78. Glad you find the charts helpful. It’s a combination of support from the ‘big picture’ supporting levels (the bowl) and moving averages/fib levels etc. They’re all playing their part now, with the overall bull trend establishing itself.

3. Alex33 says:

   October 1, 2019 - 4:21 pm at 4:21 pm

   Nice update! It remembers me of one of your posts in August where different options were posted. Scenario 2 is taking place by now( my choice back then)

   https://goldtadise.com/wp-content/uploads/2019/08/Chart1269Gold.png

   • Northstar says:

     October 1, 2019 - 5:06 pm at 5:06 pm

     Thanks Alex – Option 2 does indeed seem to be the general template for what’s taking place at the moment.