• Same story, different day...........year ie more of the same fiat floods the world
  • There are no markets
  • "Spreading the ideas of freedom loving people on matters regarding high finance, politics, constructionist Constitution, and mental masturbation of all types"

III wave of gold/silver

glockngold

Gold Member
Gold Chaser
Site Supporter
Joined
Mar 31, 2010
Messages
3,151
Likes
3,720
#2
Dude...
Long time no.
 

REO 54

Midas Member
Midas Member
Joined
Jul 4, 2010
Messages
6,546
Likes
4,636
#6
So gold closes down on our chart yet on foxszooze it close up 9+. What gives ? Weird.....
 

d-lod

dawn
Silver Miner
Joined
Apr 18, 2010
Messages
923
Likes
394
Location
toronto/asia
#7
So gold closes down on our chart yet on foxszooze it close up 9+. What gives ? Weird.....
thanks buddy

gold going to finish 38.20 retracment at 1380 soon
siver could be a smarter bet, its just the premium that kills the profit
 

savvydon

Gold Member
Gold Chaser
Joined
Dec 14, 2010
Messages
2,615
Likes
2,085
#11
19.36, 18.27, 17.38 AND 16.50

are the level to be watched out for silver' reaction as to rise from 13.66
Yes, and the more shallow the correction the more brisk the next leg up will likely be.
 

d-lod

dawn
Silver Miner
Joined
Apr 18, 2010
Messages
923
Likes
394
Location
toronto/asia
#12
Right on savvydon,

I am waiting for first reaction to be completed, so as to be able to touch this wild beast 'SILVER', it so untamed, it fails every master. Last time i predicted uptrend of gold with authenticity,

The 19.36 level is achieved so next waiting for 18.27. This time want to experiment with unpredictable SILVER more than gold.
Looking forward to collective wisdom of GIM2.
 

Uglytruth

Gold Member
Gold Chaser
Joined
Apr 6, 2011
Messages
5,702
Likes
8,232
#13
Seems if one wanted to play you could buy on Monday after it's smashed down & sell on Friday. And you could short on Friday and sell on Monday after the smash.
 

d-lod

dawn
Silver Miner
Joined
Apr 18, 2010
Messages
923
Likes
394
Location
toronto/asia
#14
Seems if one wanted to play you could buy on Monday after it's smashed down & sell on Friday. And you could short on Friday and sell on Monday after the smash.
Yaa or just wait to finish the first Elliott wave to finish, because we are still in uncharted water.
 

savvydon

Gold Member
Gold Chaser
Joined
Dec 14, 2010
Messages
2,615
Likes
2,085
#15
Right on savvydon,

I am waiting for first reaction to be completed, so as to be able to touch this wild beast 'SILVER', it so untamed, it fails every master. Last time i predicted uptrend of gold with authenticity,

The 19.36 level is achieved so next waiting for 18.27. This time want to experiment with unpredictable SILVER more than gold.
Looking forward to collective wisdom of GIM2.
Yesterday was an odd one for the PM market, silver in particular. I would have thought that the strong US jobs report would have accelerated the beat down that was already in progress. Instead silver turned around and raced upward. Next week should be interesting...
 

Uglytruth

Gold Member
Gold Chaser
Joined
Apr 6, 2011
Messages
5,702
Likes
8,232
#16
To much uncertainty in the world. Gotta play the emotion card. Market up & G& S up......... everyone hedging their bets when the markets are closed.
 

d-lod

dawn
Silver Miner
Joined
Apr 18, 2010
Messages
923
Likes
394
Location
toronto/asia
#17
To much uncertainty in the world. Gotta play the emotion card. Market up & G& S up......... everyone hedging their bets when the markets are closed.

The market is traded by deep pockets for their gains. If small speculators are shorting they will rig prices up, if they are long it comes down.
So the market is for those who are awake 24 hrs (has team members) are for physical fundamentalist having long term view.

I will give you example of last two major waves in SILVER.


MAJOR WAVE ONE
(uptrend with wave two and four as correction)

Wave I ...........4.00 – 8.43. Total + 4.43 = 110 %

Wave II ..........8.43 – 5.43. Total - 3.00 = 36 %

Wave III .........5.43 – 21.34. Total + 15.91 = 393 %

Wave IV.........21.34 – 8.43. Total - 12.91 = 60 %

Wave V ..........8.43 – 49.73. Total + 41.30 = 490 %



MAJOR WAVE TWO (downtrend with wave two as correction)

Wave I .........49.73 – 26.05. Total - 23.68 = 47.5%

Wave II.........26.05 – 37. 50. Total + 11.45 = 44 %

Wave III........37.50 – 13.63. Total - 23.87 = 63 %

http://www.elliottwave.net/educational/basictenets/basics1.htm

From the above site, those who want to relearn EW, can visit it. there are only three basic laws of EW and i can assure at least one has been observed. I studied Alf Field, who is so far the best elliotisian according to many analyst for gold, but even his silver count could not be taken correctly. He projected price of 158 for last uptrend.

http://www.gold-eagle.com/article/new-ew-silver-discovery



His calculations were very correct following elliot wave theory to ditto, but it could not explain the present correction to 13+ and the timing. So I am taking what he labelled as Wave 1 of MAJOR THREE, as actually wave 5 of MAJOR ONE.

That suggest we will be in MAJOR THREE, if the current uptrend play out to be UPTREND.
 
Last edited:

Zed

Size doesn't count!
Midas Member
Joined
Mar 30, 2010
Messages
12,230
Likes
9,774
Location
Springfield
#19
Yesterday was an odd one for the PM market, silver in particular. I would have thought that the strong US jobs report would have accelerated the beat down that was already in progress. Instead silver turned around and raced upward. Next week should be interesting...
... the 'beat' appears to have been taken as a ridiculous bluff. Maybe driven by the up coming election, maybe a market lead 'necessity' but it would seem that the only thing that has taken a 'beat down' is the BLS's creditability.

I dunno, that is just from what I have managed to read so far.
 

d-lod

dawn
Silver Miner
Joined
Apr 18, 2010
Messages
923
Likes
394
Location
toronto/asia
#20

Thanks savvydon

Picture makes it so simple.

As there are three rules as follow

Rule 1: Wave 2 cannot retrace more than 100% of Wave 1.

Rule 2: Wave 3 can never be the shortest of the three impulse waves.

Rule 3: Wave 4 can never overlap Wave 1.

Your above chart is fulfilling all three.
 

d-lod

dawn
Silver Miner
Joined
Apr 18, 2010
Messages
923
Likes
394
Location
toronto/asia
#22
Was hoping for a picture... :2 thumbs up:
GOT IT............. GOT IT......................Dude. I should have said chart............... hehe.

The 23.60% retracment of the downish from 49+ to 13+ is 22.16, so it should go to 22.16, but 8 hourly is giving bearish MACD, and the bears may not like to relinquish so easily. Is Scorpio growling somewhere?
 
Last edited:

d-lod

dawn
Silver Miner
Joined
Apr 18, 2010
Messages
923
Likes
394
Location
toronto/asia
#24
19.36, 18.27, 17.38 AND 16.50

are the level to be watched out for silver' reaction as to rise from 13.66
19.36, 18.27, 17.38 and 16.50 are Fibonacci level, while EW has its own story to tell, all this are calculated as per rules, but we are still in uncharted water of MAJOR THREE, if this is uptrend.


21.36 – 19.20 = 2.16 - 10%

19.20 – 20.67 = 1.47 - 7.5%

20.67 –
18.60 = 2.07 - 10%

OR

20.67 - 17.22 = 3.45 - 16.7%

So the picture may clear on achieving this targets............of 18.60 / 17.22
 

southfork

Site Supporter
Site Supporter
Mother Lode
Joined
Mar 31, 2010
Messages
15,700
Likes
14,629
#25
That dang iffy thing is the fly in the ointment


19.36, 18.27, 17.38 and 16.50 are Fibonacci level, while EW has its own story to tell, all this are calculated as per rules, but we are still in uncharted water of MAJOR THREE, if this is uptrend.


21.36 – 19.20 = 2.16 - 10%

19.20 – 20.67 = 1.47 - 7.5%

20.67 –
18.60 = 2.07 - 10%

OR

20.67 - 17.22 = 3.45 - 16.7%

So the picture may clear on achieving this targets............of 18.60 / 17.22
 

d-lod

dawn
Silver Miner
Joined
Apr 18, 2010
Messages
923
Likes
394
Location
toronto/asia
#28
19.36, 18.27, 17.38 and 16.50 are Fibonacci level, while EW has its own story to tell, all this are calculated as per rules, but we are still in uncharted water of MAJOR THREE, if this is uptrend.


21.36 – 19.20 = 2.16 - 10%

19.20 – 20.67 = 1.47 - 7.5%

20.67 –
18.60 = 2.07 - 10%

OR

20.67 - 17.22 = 3.45 - 16.7%

So the picture may clear on achieving this targets............of 18.60 / 17.22






the level of 18.60 should be very near
 

savvydon

Gold Member
Gold Chaser
Joined
Dec 14, 2010
Messages
2,615
Likes
2,085
#29
if this is uptrend... the picture may clear on achieving this targets............of 18.60 / 17.22
This is where the rubber meets the road, where the wheat separates from the chaff, the men from the boys, bears from the bulls...
 

d-lod

dawn
Silver Miner
Joined
Apr 18, 2010
Messages
923
Likes
394
Location
toronto/asia
#30
This is where the rubber meets the road, where the wheat separates from the chaff, the men from the boys, bears from the bulls...

Now the crossing of 21+ with stronger technical will means uptrend........................off-course after the reaction to fibo level.
 

savvydon

Gold Member
Gold Chaser
Joined
Dec 14, 2010
Messages
2,615
Likes
2,085
#31
Now the crossing of 21+ with stronger technical will means uptrend
I firmly believe this is on the way. Still, I wonder if there is any way to draw an Elliot wave chart showing that this years move from $13 to $21 was just some sort of dead cat bounce on the way back down lower? I don't think that is where we are, I just wonder if that argument can even be properly mapped...
 

d-lod

dawn
Silver Miner
Joined
Apr 18, 2010
Messages
923
Likes
394
Location
toronto/asia
#32
I firmly believe this is on the way. Still, I wonder if there is any way to draw an Elliot wave chart showing that this years move from $13 to $21 was just some sort of dead cat bounce on the way back down lower? I don't think that is where we are, I just wonder if that argument can even be properly mapped...

savvydon
With EW ocilator and volume study it does suggest that it is not dead cat bounce, but for me, i am looking this reaction to go further down to emerge back with positive MACD and other technical.
 

d-lod

dawn
Silver Miner
Joined
Apr 18, 2010
Messages
923
Likes
394
Location
toronto/asia
#33
19.36, 18.27, 17.38 and 16.50 are Fibonacci level, while EW has its own story to tell, all this are calculated as per rules, but we are still in uncharted water of MAJOR THREE, if this is uptrend.


21.36 – 19.20 = 2.16 - 10%

19.20 – 20.67 = 1.47 - 7.5%

20.67 – 18.60 = 2.07 - 10%
OR

20.67 - 17.22 = 3.45 - 16.7%

So the picture may clear on achieving this targets............of 18.60 / 17.22




17.22....................................target acheived
 

d-lod

dawn
Silver Miner
Joined
Apr 18, 2010
Messages
923
Likes
394
Location
toronto/asia
#35
crossing of 1334 is essential for upleg.
positive divergence in short term MACD is evident.




1546566890043.png
 
Last edited: