Goldtent TA Paradise

Gold

1. Nautilus says:

   October 9, 2020 - 11:11 am at 11:11 am

   I definitely like that we reversed the bearish candle from a few days ago. However, other than that blip on Tuesday, this is playing out more or less exactly as I have expected.

   Per my previous prediction, I don’t think $gold will get much past its 50 dma–maybe around $1975 at the most. I think it will be stuck hovering around its now declining 50 dma until late October or more likely until just after the election when the next daily cycle low is due.

   I am expecting $gold to retest or get very close to its rising 100 dma at the next daily cycle low, which should be at around $1915 the week of Nov. 9th. and it’s possible it dips just below that MA for a day or two to shake out all the longs who are buying today’s spike. It’s also possible the miners make a round trip to come close to the September 24 low at that time.

   I hope I am wrong and gold can make huge move on this daily cyle, but I don’t think it is in the cards. It needs a little more consolidation. However, all bets of off on the next daily cycle, which I expect to begin just after the election, although its possible it begins in very late October or just before the elections.

2. Nautilus says:

   October 9, 2020 - 11:17 am at 11:17 am

   Just to follow up on my above note, It’s possible gold could test $2000 this daily cycle, with the peak arriving it the next 2-3 weeks. That will give it 2-3 weeks to decline into the daily cycle low which I am expecting in November.

3. Nautilus says:

   October 9, 2020 - 11:37 am at 11:37 am

   And just one more note–today’s gap in the miners will most likely get filled at the next daily cycle low, if just.

   Looking at the daily Ichimoku cloud for the $HUI, if I had to take a wild guess, I would say the next daily cycle low will come on November 9th or 10th and will fill today’s gap in the miners to the penny. Take this particular prediction with a grain of salt, as placing bets based on exact price AND time is a fool’s game (IMO).

   • Fullgoldcrown says:

     October 9, 2020 - 11:56 am at 11:56 am

     Good stuff Nautilus

     Thanks.

     I hate them damn Gaps