The CoinGuy Posted August 26, 2004 Report Share Posted August 26, 2004 Hey TCG, here's the link DrAu's Public Chart List The chart in question is on top of page 2, and the answer to your question should be answered when you see it. Good Luck! Thor, First of all, looks like you've done quite a bit of work here. When I get time tonight I'll take a closer look. If were talking about the first chart on the second page, then were discussing the 1yr daily $HUI chart. The pink S/R lines, I can see your point there, but I believe the first line of resistance at the Sym Tri would be more important here, and normally wouldn't pay attention to the S/R lines you've drawn when we've just taken out a Sym Tri, pulled back retested and moved higher. I'm under the impression you just drew those to point out possible resistance? What I'm looking at...and could offer formidable resistance is the DT line dead ahead as well as the 200sma, I don't primarily use the ema in these type of situations. This is what could truncate this move, and if I don't see VOl, I'm the fastest gun in the west. This DT line, not the Sym Tri was wear I am looking for VOL. The second peak, I'm still not sure what you meant, but If you're talking about the first triangle off the top of this last run, I would be surprised to see us take these out on a first attempt. Best, TCG Link to comment Share on other sites More sharing options...
ThorAss Posted August 26, 2004 Author Report Share Posted August 26, 2004 I'm a bear with a small brain and I only understood half of what you wrote but no matter I think I get the gist. However, by the second peak I mean the second peak within each sym tri (as u put it) that effective defines its upper boundary. See now? Here's the text of the post I mentioned. The chart is the one we've been discussing. Here's my somewhat unorthodox Hooey interpretation. Please refer to the chart below. I figure we are into the fourth of a series of 4 or more moves of a very similar pattern. Low to low the moves have lasted 57,68,53 and 20+ days. The patterns consist of 2 main peaks the second lower than the first, an upsloping base and finally a breakdown to the start of the next cycle. In the first and third cycles the final low was higher than the initial low but much lower in the second. So how are we going in this the fourth cycle. Well pretty good really as the initial high was higher than the previous high implying both a bullish pattern break and a bullish breakout, This week's weakness has just got us back to the breakout line. Buying here with a stop not far below (preferably at yesterday's close) is a possible strategy. On sipport failure the next lower target would be somewhere above the 188 point at the lower upsloping support line. Okay well that's about it for good news. The bad news is we didn't really breakout of the purple channel. And if the 200 level doesn't hold then we can probably expect a continuing pattern which would imply a lower high coming followed by a break down to lower lows. By this time I think the long term cycles will come into play and we can just abandon this thread. But it was fun while it lasted. So, you see I consider tomorrow and the few days beyond leading into early September as very very very etc etc important. Isn't TA more fun than working? :grin: Link to comment Share on other sites More sharing options...
ThorAss Posted August 26, 2004 Author Report Share Posted August 26, 2004 The first bear flag on today's POG tick chart took us down to 406 as expected where yet another bear flag started. This one probably has a target of 402 or thereabouts. Meanwhile while we were flagging NEM rallied A LOT. After gapping up (a little) and trying to push higher NEM dropped like a stone 70 cents. The rally took it back up over 60 cents :shocked with then recorrected downwards over 40 cents, then up 20 then down 12. Get the picture? We are coiling. I just gnu this was going to be a key day. Which way Ladies and Germs? Placez Votre Betes! Link to comment Share on other sites More sharing options...
The CoinGuy Posted August 26, 2004 Report Share Posted August 26, 2004 I'm a bear with a small brain and I only understood half of what you wrote but no matter I think I get the gist. However, by the second peak I mean the second peak within each sym tri (as u put it) that effective defines its upper boundary. See now? Here's the text of the post I mentioned. The chart is the one we've been discussing. Here's my somewhat unorthodox Hooey interpretation. Please refer to the chart below. I figure we are into the fourth of a series of 4 or more moves of a very similar pattern. Low to low the moves have lasted 57,68,53 and 20+ days. The patterns consist of 2 main peaks the second lower than the first, an upsloping base and finally a breakdown to the start of the next cycle. In the first and third cycles the final low was higher than the initial low but much lower in the second. So how are we going in this the fourth cycle. Well pretty good really as the initial high was higher than the previous high implying both a bullish pattern break and a bullish breakout, This week's weakness has just got us back to the breakout line. Buying here with a stop not far below (preferably at yesterday's close)? is a possible strategy. On sipport failure the next lower target would be somewhere above the 188 point at the lower upsloping support line. Okay well that's about it for good news. The bad news is we didn't really breakout of the purple channel. And if the 200 level doesn't hold then we can probably expect a continuing pattern which would imply a lower high coming followed by a break down to lower lows. By this time I think the long term cycles will come into play and we can just abandon this thread. But it was fun while it lasted. So, you see I consider tomorrow and the few days beyond leading into early September as very very very etc etc important. Isn't TA more fun than working? :grin: Thor, You offer a different view, but in some ways similar, personally, I don't find it unorthodox, but unique. I appreciate the look-see into that post. I don't follow any cycles, I'm a strict Edwards & McGee/Wilder trader. The only point of contention here are the longer-term cycles you speak of, I'm imagining this is the 8 year cycle. I've heard comments on this, but don't follow the gist of the argument. I trade what I see. Yes TA is more fun than working, and its my job... Best, TCG Link to comment Share on other sites More sharing options...
Guest Posted August 26, 2004 Report Share Posted August 26, 2004 "So, you see I consider tomorrow and the few days beyond leading into early September as very very very etc etc important." "We are coiling. " yeah ... trading sure has that quality too... folks picking sides and buying/selling tickets. Link to comment Share on other sites More sharing options...
The CoinGuy Posted August 26, 2004 Report Share Posted August 26, 2004 From Mr. Gold... Morgan has been buying 500 gold COMEX contract lots repeatedly, continuing the modus operendi of earlier this week. Now there is a change in tactics. TCG Link to comment Share on other sites More sharing options...
ThorAss Posted August 26, 2004 Author Report Share Posted August 26, 2004 SMH is singularly uninteresting today so I won't bore you with the details. Think I'll go switch on the Olympics and see what Canadian is tripping over what object. Link to comment Share on other sites More sharing options...
The CoinGuy Posted August 26, 2004 Report Share Posted August 26, 2004 SMH is singularly uninteresting today so I won't bore you with the details. Think I'll go switch on the Olympics and see what Canadian is tripping over what object. I'm thinking a nice steak sandwich, then 18 holes at the club... Nice day here, TCG Link to comment Share on other sites More sharing options...
anjing bau Posted August 26, 2004 Report Share Posted August 26, 2004 IUC.to..... uranium.... leading the group>> after CCJ that is... uex.to also looking decent.... Link to comment Share on other sites More sharing options...
anjing bau Posted August 26, 2004 Report Share Posted August 26, 2004 JNN.v on deck ...... Link to comment Share on other sites More sharing options...
ThorAss Posted August 26, 2004 Author Report Share Posted August 26, 2004 SMH is singularly uninteresting today so I won't bore you with the details. Think I'll go switch on the Olympics and see what Canadian is tripping over what object. I'm thinking a nice steak sandwich, then 18 holes at the club... Nice day here, TCG I should have more respect for you, you are obviously more successful than me. Today, I was more like macaroni and a walk for The One around the football stadium. Link to comment Share on other sites More sharing options...
ThorAss Posted August 26, 2004 Author Report Share Posted August 26, 2004 I have just two more words for y'all just now: Mahendra SinkLair Link to comment Share on other sites More sharing options...
anjing bau Posted August 26, 2004 Report Share Posted August 26, 2004 Liquidity is returning to CDNX..... volumes are up recently Link to comment Share on other sites More sharing options...
Moon Man Posted August 26, 2004 Report Share Posted August 26, 2004 Hmmmmm. I could buy GSS at 4.58, while I sold it on friday for 4.99. Link to comment Share on other sites More sharing options...
Guest Posted August 26, 2004 Report Share Posted August 26, 2004 Thor.. this thing really is coiling.. Its gonna strike, and I gotta think its going to resolve to the upside in a violent way pretty darn soon.. Of course, my usual acknowledgment about my lack of intelligence is inherent in all my posts ...so no need to remind me of it please..... Edit.. Just wondering of we don't see some sharp compression soon first... I find that my portfolio adjustments have me much more weighted to Silver than Gold.. Hopefully some significant decoupling between the two will occur as well.... Link to comment Share on other sites More sharing options...
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