Wednesday, October 12, 2016

Silver Oct 12,2016

Looks like a bottom for silver based on cycles and Fibonacci time line (89 and 34 days).  RSI down around 30 (marking a low?).

GL traders



  1. Thanks Inlet....that is some kind of cycle convergence....

    1. What happened, did Gold move to 1600 or is it correcting?
      Your funny lagging backward looking lines did a great job:)))))

    2. what the heck, are u doing lines?
      I'm not the author dufus.....

    3. Your special Net buy line, Net sell line....
      Is it time to eat crow or 10% lower is just bump on the way to 1600?

    4. Are u kidding me, why would I fold because of a $100 move move since I was in lower? I'm still positive and it's not a short term trading strategy....You must be a drama queen or something....

    5. As always when some one is wrong he is long term investor:))))

  2. Krasi - how different are my charts versus Hurst cycle charts?

    1. I use the basics like you counting weeks. The charts above are showing the nominal Hurst model 5/10/20/40 weeks... so no difference.
      There is other stuff like FLD entry based on it etc. I do not use it.
      Gold has cycle length close to the nominal model and it is easy to track it using the theory.
      USD indexes are more difficult because the cycle are shorter and for example from 2012 to 2015 the amplitude disappeared making it difficult to pinpoint the lows.

      The nominal model is just a guidance the length vary for different assets. The trick is to find the rhythm of the cycles for what you trading.

    2. Inlet sorry for hijacking the comments:)
      As excuse some curious information for those interested in PM and cycles. Gold has very high correlation with USDJPY. When it moves higher gold moves lower. I suppose speculative money risk on/risk off trades.

      Long term
      - Gold counting bottoms 4/8 year cycle low late 2015
      - USDJPY counting tops 8 year cycle top late 2015

      - Gold counting tops next 4 year cycle top 2020
      - USDJPY counting bottoms next 4/8 cycle low 2020

      Intermediate term
      - USDJPY close to 4 year cycle low probably end of 2016 - after that a rally for 6 months at least.
      - Gold higher for 2-3 months (USDJPY lower for 4 year cycle low)
      than another leg lower 6 months(USDJPY 6 months rally) to finish second 9 month cycle and 18 month cycle low followed by strong rally.

  3. Talking about MCX metals, they continue to rise till the end of the trading session as per by epic research . They ended up at 331 rupee higher from the opening price.