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.
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It looks to me like
GDX 60 Min. from GET at the end of day
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.