Pages

Saturday, January 4, 2014

more to come sunday.page 2

The HUI/Gold Ratio chart is below 0.18. Historically this has been a good area to start picking up gold stock shares. I prefer to get an confirmed price move by way of E-wave count, but wanted you to be aware in case that's your cup-of-tea.The last time it was this low was in 2001.
click to enlarge

The Price action so far of the Gartley in the Gold charts have been back and forth in the PRZ zone.(price reversal zone) it hasn't crossed over the .382% retrace from wave -ii- yet.
We may want to wait for the break of the trendline and set a close stop in case there is more downside to come ( which is in line with the HEW wave count). The current price action looks like a Flat so far to me.

Gartley's have the highest Fail rates of all the Harmonic Patterns. Being we are looking for an -iii-/-iv- wave, the Gartley could "Fill" and the Price action never go past the wave -ii- for confirmation of Bullish turn. There is a lot of upside here so waiting for the I-cloud confirmation to keep from being whip-sawed is a good Bet.

Thanks to Stockcharts.com for letting us repost our charts from our accounts.

No comments:

Post a Comment