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Goldbugs

GDX - POTENTIAL DOUBLE BOTTOM - IS IT ROCKET SHIP TIME?I believe a double bottom has formed at the 22.50 level. This could lead to a potential boost to 26 over the next few weeks. We have seen a nice bounce off this level in the second week of October, and have been progressing well a long the daily bullish trend-line. Unfortunately, miner equities and ETF's have been selling off with the recent equity sell-off, and it's gains have been capped. I believe that as long as gold remains bullish this week and bounces over 1280, we will see the GDX take off, and it will decouple from it's relationship with the other equities, and lean more towards it's relationship with gold.
AMEX:GDXLong
by GeorgeJimas
3
BTO.TO - GOLD - B2GOLDRoughly trading on the same trend lines as gold. I am personally long from 3.43 - 2.97 - 2.89 (in that order) Avg. Cost 3.23, SL 3.43, TP 4.75 BTO.TO dropped significantly (roughly 12%) in late September due to a administrative audit (pretty much BS, and nothing will come from it as mining production in this area has not been hampered), and has a lot of room to grow with gold. Have been pushing BTO in the chat for a few weeks now, however given the fact that it is on the TSX (you can trade BTG in USD if you prefer, same company), the idea hasn't really caught on. May want to wait for a bounce off of the lower trendline to buy long (I will be adding if it reaches this level), however I am unsure if it will drop to the second trendline unless we see a significant drop in the price of gold.
TSX:BTOLong
by GeorgeJimas
THE GOLDEN CHANNELI went long on miners at points A, and B. I have been using this channel since October 24 to help analyze whether or not to add to my longs, or if we would drop to my second trend-line. Based on the help we received from Clinton today, and the fact that we closed over 1275, I believe the lowest we will see next week is 1268/69 (this is based on my trend-line, and RSI ticking up). I do not believe we will close below 1270 all week, and I think 1290 is a realistic target. (this is of course unless the Fed decides to raise interest rates in November, which I think is highly improbable). I also do not foresee us dropping down towards the second trend-line unless NFP is very strong (which I also believe will not happen). I believe Bulls will have the momentum for the upcoming weak based on how this week ended (close over 1275), and I feel that the Fed and the NFP report will help solidify their grasp on the week.
FX:XAUUSDLong
by GeorgeJimas
Gold - Consolidation since early July about to endGold has been consolidating over the last two and a half months. It did everything to confuse everybody. But besides all this short-term noise there has been a very important and extremely bullish development. The Slow Stochastic Oscillator is sitting with both signal-lines above 80 for more than 3 months now and has therefore converted into the rare embedded status. This is super bullish and means the uptrend is locked in... I think the final bottom is due until next Wednesday between $1,300 and 1,310. From there Gold will shoot towards $1,415-$1,430 pretty fast....BUY THE DIP
FX:XAUUSDLong
by MidasTouchConsulting
2
GOLD CRITICAL JUNCTIONI don't trade gold unless it's extreme high or extreme low for long term holdings. But just would like to share my charts with gold bug traders so that they know where they are trading. Move extremely cautious if your are long as PRICE is approaching the solid RED resistance line. If you want to go long then let it break. Also this is a monthly chart so don't know you have the nervs to wait that long. If you wanna make some quick bucks then go short once hits red zone.
AMEX:GLDShort
by sum1
XAU/USD be patientI published this yesterday but have been looking at it a lot today and have added in a Fibonacci retracement from the low of December 2015 to this years high and I've identified with the blue rectangle this key area of support. Some consolidation (maybe 1 week) in this area would be ideal as we could then look to go long on a break out and hopefully look for a good 2 month long trend continuation upwards resulting in an eventual breakout above the current yearly high. The red dotted line in the blue rectangle also indicates the previous break out level and resistance so could also add support. * A break of this level would, for me, be the main indicator that the tide is turning slightly for the bears here. Looking at the potential fundamentals with the dreadful German sentiment numbers today, ongoing Euro uncertainty, a potential Dollar bubble. I'm massively bullish gold. BUT. Patience is a virtue..... Let the bears have their day.. For now. Good luck trading out there.
FX:XAUUSDLong
by njbtrading1
XAUUSD countsI thought i'd post this. Would appreciate some feedback guys if you can. My original idea was this thinking that we have just finished wave 5 of a zig zag for a 4th wave correction I have changed the count. (iii) ends where (v) used to. I did this because now wave 3 goes beyond the high of wave 1 and you can see a clear 5 wave climb for wave (iii). If this is the correct count it means (v) was exhausted and couldn't make newer highs. This new count means we could see in a zig zag or flat correction. Just have to wait and see. I think it will creep up for Friday. Then we will see another fall next week
FX:XAUUSD
by benchch
XAUUSD WEEKLY CHART - MAKE IT OR BREAK ITWith all the NIRP's and ZIRP's flying around in an economy based off fraud and debt, this was expected, and now we have the start of the technical indicators to back it up :) With the history of miners leading the commodity in moves, I'm expecting gold to make a move higher (see GDX charts): - We again have the bull flag being made, with any bearish attempt to "fill the gap" back down to 1180 being stunted 1200 - Our 'medium' channel from 2013 has been broken, re-tested, and remained bullish - We are at out 23% fib retracement (same that GDX just broke through) from our big move down from our ATH in 2011 - We are also one move away from recent solid price action (black horizontal lines), which was similar in the GDX as well - If these are able to break tomorrow, 1300-1400 is our very short term goal - After 1415 you only have 1485, and 1568-1600 as price action areas, which is a very nice, large gap to be filled Feel free to comment with questions or ideas :) Happy Trading!
FX:XAUUSDLong
by AwareBear
XAUUSD DAILY CHART - MAKE IT OR BREAK ITWith all the NIRP's and ZIRP's flying around in an economy based off fraud and debt, this was expected, and now we have the start of the technical indicators to back it up :) - Just as the GDX, we have a beautiful parabola, followed by an attempt to go to 1180, which was rejected by the bulls - This creates the bull flag / pennant that was see now, which was just broken out of to the upside - By finishing this day (April 11th) above the 23% fib retracement, I believe we have invalidated any head and shoulders pattern, as the left shoulder failed to do this - This is vital, for if we drop lower from here, that is a classic Head and Shoulders pattern, which would launch us to 1180 no problem, so this is why it is a "make it or break it" time for gold ... - We are out of our 'middle tier' channel, and back into a smaller and much weaker channel - This leaves me with some concerns but the same thing applies as to the GDX; - If it can break and hold above this channel and price action of 1270, that's when we should see the confirmation of a bull market, short term at the very least Feel free to comment with questions or ideas :) Happy Trading!
FX:XAUUSDLong
by AwareBear
GDX DAILY CHART -- MINERS BREAKOUT, CASH WONT BE KING FOR LONG With all the NIRP's and ZIRP's flying around in an economy based off fraud and debt, this was expected, and now we have the start of the technical indicators to back it up :) I was expecting it to retrace down to the 17 area to "fill the gap" Instead it created a bull flag / pennant , and then in 3 days , broke out of our channel and above price action All very bullish signs, even with the 50 and 200 ma quite far behind Tomorrow (April 12th) I will be looking for a retracement of 22.16, which if it can hold, is where I buy more miners - If it doesn't retrace at all I will simply buy in before the day ends, as I'm a firm believer in price action Feel free to comment with questions or ideas :) Happy Trading!
AMEX:GDXLong
by AwareBear
GDX WEEKLY CHART -- MINERS BREAKOUT, CASH WONT BE KING FOR LONGWith all the NIRP's and ZIRP's flying around in an economy based off fraud and debt, this was expected, and now we have the start of the technical indicators to back it up :) My target area Short Term is 25-28: - We have the 23% fib retracement from our move down from our All Time Highs in 2011. - Weekly 200 ma - Solid price action (horizontal black lines) - Broke out of our channel to the upside that start in June 2013 -- If tomorrow (April 12th) holds above this channel, that's when I shoot my final bullet - The top of our bigger channel is in this area Feel free to comment with questions or ideas :) Happy Trading!
AMEX:GDXLong
by AwareBear
Where is gold heading in the next weeks, months and years?In the medium term, gold is in the 5th wave of an ending diagonal that could end around 1030. But before heading to new lows we could see a correction towards 1120 levels in the (B) wave. In the long term, gold should start a multi-year upward move towards 1450-1500 during these years the sentiment will shift from bearish to bullish and analysts will call for new all times highs ($2500, $5000 and $10,000). After reaching my target, gold will go in another multi-year bear market towards new lows $700s area which represents the area in which a smaller degree 4th wave ended (2008 lows) and the end of the first wave of the grand supercycle. At that point in time, investors will dump gold and most people will be bearish gold, all goldbugs would turn bearish; which will represent the beginning of the fifth grand supercycle wave to new all time highs. In commodities, the fifth wave usually is the strongest. P.S: I am not a fortune teller, I just use the given variables and present the most probable outcome using Cycles, Elliott Waves Analysis, the Dow-theory, Social trends and fractals.
FX:XAUUSDLong
by ResonanceTrading