I see, silly me. What's your target range for GDX wave 3, Steve?
And is there a way to predict it like GET does? There must be some
theory behind the GET's algorithm to compute the target ranges.
Thanks for any input on this subject!!
It looks to me like GDX is in Wave 5 down on the 60 minute
charts so I have no idea what you're asking. Just react to a
buy signal if you get one. I believe Matt will be discussing
this tonight. The US Dollar remains in a solid up channel on
my 240 minute chart at this time and is something to monitor
closely if trading Gold or Gold Stocks.
I appreciate your feedback, Steve. I could count only 3 waves
down from the top on GDX: one in a falling wedge, then a descending
triangle, and the third one a waterfall drop from that triangle. I
permit to be perfectly wrong here. If you or Matt are willing to
put the wave count on the 60-minute GDX chart and explain why the
count goes there, I'd appreciate it. I need to develop my own
looking and not be dependent on you, Matt or GET to place wave
counts.
Now if the dollar turns down, and gold bounces, then GDX could
indeed have a substantial bounce as well like to $50, especially in
the MMs decide to fly too.
Check out matt's 15 and 60 min charts [in the sticky
section]--only the 60 min slo sto 60 needs to confirm by crossing
above 20 now...the daily GDX found solid support on its uptrend
line and the BPGDM has flattened, potentially getting ready to turn
up.
Watch the dollar and gold.
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GDX 60 Min. from GET at the end of day
Posted by Peridot on 21st of Dec 2009 at 05:24 pm
Here's the 60 min GET of GDX per the request below.
Are we in wave 5
Posted by junkie on 21st of Dec 2009 at 05:40 pm
Are we in wave 5 down now, according to the chart? It looks different from the previous chart posted here last week.
Like anything else Junkie the
Posted by steve on 21st of Dec 2009 at 07:05 pm
Like anything else Junkie the GET system will adjust. For example, it always starts out labeling as a 123 but often changes to ABC as overlap occurs.
I see, silly me. What's
Posted by junkie on 21st of Dec 2009 at 07:13 pm
I see, silly me. What's your target range for GDX wave 3, Steve? And is there a way to predict it like GET does? There must be some theory behind the GET's algorithm to compute the target ranges. Thanks for any input on this subject!!
It looks to me like
Posted by steve on 21st of Dec 2009 at 07:22 pm
It looks to me like GDX is in Wave 5 down on the 60 minute charts so I have no idea what you're asking. Just react to a buy signal if you get one. I believe Matt will be discussing this tonight. The US Dollar remains in a solid up channel on my 240 minute chart at this time and is something to monitor closely if trading Gold or Gold Stocks.
I appreciate your feedback, Steve.
Posted by junkie on 21st of Dec 2009 at 07:34 pm
I appreciate your feedback, Steve. I could count only 3 waves down from the top on GDX: one in a falling wedge, then a descending triangle, and the third one a waterfall drop from that triangle. I permit to be perfectly wrong here. If you or Matt are willing to put the wave count on the 60-minute GDX chart and explain why the count goes there, I'd appreciate it. I need to develop my own looking and not be dependent on you, Matt or GET to place wave counts.
GDX looking good
Posted by perthx on 21st of Dec 2009 at 06:15 pm
Wave 5 is done, imo.
Now if the dollar turns down, and gold bounces, then GDX could indeed have a substantial bounce as well like to $50, especially in the MMs decide to fly too.
Check out matt's 15 and 60 min charts [in the sticky section]--only the 60 min slo sto 60 needs to confirm by crossing above 20 now...the daily GDX found solid support on its uptrend line and the BPGDM has flattened, potentially getting ready to turn up.
Watch the dollar and gold.