Loading ...DUST intraday UPDATE
So yesterday we did had a BO of the DUST BULL FLAG and therefore in terms of chartology we should also expect a Back-Test (BT). The sooner the better I usually say. Well that happend fast already next day (read today). Therefore in terms of chartology one should take the TRADE on the BT which would be today if one believe in TOPPING-OUT on GDX which is my thesis! The interesting thing of todays’ BT is that it also FILLED da GAP while BT-Completed. Now there are only GAPS to be filled at higher ground.
Here both Daily and 15-min:
Still, as mentioned before, we can go SIDE WAYS for another 2 weeks while ping-pong within a Larger Rectangle (on the DUST-15).
Today’s BT, right Here & Now . . . should be a good place for going Short-GDX = BUY DUST.
IMO
Risk On move still ahead for the near term, including PMs.
GDX now at key IT R, poised for IT buy signal that could be the last one for this BMR.
Good Luck Nightingale….You are right of course…this is where belief in a system gets tested
For sure Fully. This is Bull/Bear fight. I stand by my thesis on the completion of the Right Shoulder of the long term GDX as long GDX not above 30/31-ish. I am willing to leave my thesis once the H&S-pattern becomes invalid. As always TRADE with a PLAN. When the plan does not come to fruition then exit the trade and the go back to the drawing board. As for now GDX topping pattern equals DUST bottoming pattern. We will be able to confirm within 2 weeks who won: bear or bull.
Timeframe matters for me.
Ie, its not simply Bull or Bear.
IMO, Bull wins only for a few weeks, then Bear kills Bull.
So its a short lived move for the bull.
For sure I agree with TIME as my Trades are about TIME which translated into CYCLES and alike. As most of us believe that it is ‘mostly’ about the USD . . . I showed you my USD-CYCLE chart and we are already or will be entering the USD-CYCLE-LOW as reported before. From such charts I go backwards in TIME-NOW and see if I can already observe specific movements.
As related to (many) other charts, I prefer the first/second week of January-23 and maybe last week of December-22.
https://goldtadise.com/?p=562314