Recent content by DaveTrade

You and me both, have a bad back as well.

@Garpal Gumnut and @Sdajii in particular have been taking technical lately with directional and timing opinions, I'm more with @Sean K in that I don't think it's clear at the moment. GLD has been moving sideways and has just broken my top line but my money flow indicator has turned down and that...

Short-term success can but long-term success,

Thank you for your descriptive and balance view.

Absolutely the trend is up with no sign of the trend changing. Some people on the internet say that they think that the trend will turn down soon but I go with what I see the chart doing, the price chart is the market. I regard the weekly trend as the main trend of the market, it all depends on...

I hoping to get a few waves on Sunday.

Sorry all readers of the above post, I put up the gold miners chart but the gold chart is similar with five waves up coming out of a sideways channel. My previous frustration with EW reliability most likely comes through in my post.

@Garpal Gumnut in my opinion Elliot Waves can be very subjective, many others have found variations in the interpretation of the waves. For this reason I stopped pursuing EW and now use 'Top Dog Trading waves' which are determined by reading characteristics from the chart. Five waves up is the...

That mid May low is significant on both our charts, makes think that gold may move sideways and hold above this level. The last three days up have been on low volume making me think that the market needs more time to pass before breaking out to the upside. Another way of putting it is this...

I'll put a GLD chart up for you.

From a technical standpoint this stock is currently moving down strongly within a sideways channel, if intending to buy it would be wise to have the confirmation of a strong breakout from the channel. The large volume spikes do indicate fund buying of this stock.

Hi @divs4ever , I've been focussed on the US market in which large funds have started buying into, demand is in control. My current view is a turn down coming soon, about 10% maybe, then a turn to the upside in the ballpark of 35-40%, and Australia will hopefully will follow a similar path.

Could be next week, I'm keeping a close eye on gold this next next week looking for the bottom. Also the S&P500 is near a top, the two markets may change direction at the same time.

Hi @ShareSuccess , the chart below which shows a new indicator that I've been working on. Price has been trending down since mid 2024 but recently I'm seeing a divergence between price and the 14 period indicator, the 5 period indicator has also recently crossed above the zero line, this...

Hi @rcw1 , this one is on my radar as well. It has come into a major resistance zone at the recent high but it's got the potential to regroup and take another run at it.