Here is my take which allows for the Greenspan effect:
From a short term TA and Elliott Wave perspective things are heating up. I've always made entries that I consider "early" based on my TA so I have been making it a point to get a second or if possible a third opinion from my mentors before making a move. On my chart below I see the XAU moving up against strong resistance from the long term grey channel and the mid term red channel. Stocs are entering overbought territory along with CCI. I will be watching Ryan's EW counts closely as my feeling would be to enter short here (but I'm usually early). Based on the Gold Miner the call would be to stay in cash and if using X-Dev to time the XAU a move to 105 would be the signal. I would consider the stop to be a break and hold above the two channel lines. The bullish case would be a break and hold above the two channels with stops just below.
From a short term TA and Elliott Wave perspective things are heating up. I've always made entries that I consider "early" based on my TA so I have been making it a point to get a second or if possible a third opinion from my mentors before making a move. On my chart below I see the XAU moving up against strong resistance from the long term grey channel and the mid term red channel. Stocs are entering overbought territory along with CCI. I will be watching Ryan's EW counts closely as my feeling would be to enter short here (but I'm usually early). Based on the Gold Miner the call would be to stay in cash and if using X-Dev to time the XAU a move to 105 would be the signal. I would consider the stop to be a break and hold above the two channel lines. The bullish case would be a break and hold above the two channels with stops just below.
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