Goldtent TA Paradise

Silver Weekly

1. Plunger says:

   November 27, 2020 - 10:22 am at 10:22 am

   FBO

2. Farmer says:

   November 27, 2020 - 11:18 am at 11:18 am

   I think I would buy today’s silver bottom. I like where its landed. But the reason is actually less because of silver and more because of gold. Back in November 10th I had a chart up pointing out a nice ABCD pattern developing following that nasty selloff of almost 100 dollars. At that time all we had to go on was the A-B portion of the decline. But in the world of Gartley that’s good enough for making projections into the future and estimating measured moves.

   That sharp leg down was all we needed to start getting prepared for another leg lower and that’s what my chart pointed out. The mystery part of the equation is always the B-C portion of the pattern. The reason it confounds everyone is that the sideways move of B-C is actually all about time, not price. Anyway, the target on the final drop based on the original sharp decline was 1776.00 which I mentioned a few days ago in another post.

   And guess what? We hit 1776.50 so far today as a (daily) chart low. That means my second leg down which is the C-D portion of the Gartley pattern is now complete. Gold should be bought on that basis as a termination point will form by Monday. And therefore silver can be anticipated to rally along with gold.

   So I think this is good news and wanted to point it out to readers here that a very large pattern that took place over the course of 14 days has come down and landed precisely on the expected number. That 1776 number is kind of cute too since that is the year of the United States Declaration of Independance. Make of it what you like.

   But gold is a buy come Monday.