Goldtent TA Paradise

GDX

1. North says:

   August 14, 2020 - 11:50 am at 11:50 am

   I agree. but, but, but, anything can happen.

2. PK says:

   August 14, 2020 - 12:20 pm at 12:20 pm

   “over ALREADY” Well maybe the last daily cycle (which was very right translated) is over. But the last daily cycle of an intermediate cycle is a left translated daily cycle which normally breaks below the previous DCL. So my guess is that the ICL is about a month away and will likely break below your trendline of this chart and below the 50ma. Timing would also be correct for an ICL in mid September.

3. Gold Learner says:

   August 14, 2020 - 12:20 pm at 12:20 pm

   Of course, anything can happen on any given day.

   Sir Fully gave the perspective about the correction from an index viewpoint.

   Here’s how my rocks have done today so far

   Number of rocks and Correction %ages:

   1 – 6% to 7%
   2 – 5% to 6%
   2 – 4% to 5%
   8 – 3% to 4%
   12 – 2% to 3%
   17 – 1% to 2%
   5 – 0% to 1%
   4 – no change
   7 – in the green!

   GL

4. Nautilus says:

   August 14, 2020 - 1:00 pm at 1:00 pm

   Ideal scenario for me would be a tag of the 50 dma and then a pennant consolidation (higher lows and lower highs) that lasts a month or two, but I could see GDX drop quite a bit in an alternate scenario.

5. Chartsmaster says:

   August 14, 2020 - 2:01 pm at 2:01 pm

   Took a quick look at the chart. I don’t study GDX and don’t know it’s components. I think it will at least see the 50 day around 38.13 and given that I believe the correction lasts until at least Tues. it is possible the 200 day comes into play around 31.20 but that is only if gold falls more than I am expecting. I believe the larger drop will be silver and therefore the more likely target is 38.13 by Tues.

6. Patrick says:

   August 14, 2020 - 3:15 pm at 3:15 pm

   Miners holding strong (out performing metals) while gold and silver keep consolidating. Gold volatility index dropping hard. When things quiet just a little more… this will pop.