a few weeks ago you were forcasting Gold to drop down to the $400 region. is that still your long term view or is that now off the table in your opinion?
a few weeks ago you were forcasting Gold to drop down to the $400 region. is that still your long term view or is that now off the table in your opinion?
Thanks, I think it would be useful to note two other things.
The first is that even though we are likely going to make a 5th wave up of "C" to end the "Z" wave of the triple zigzag, this market rise has now been a Fibonacci 55 weeks as of last week, so the rally is either "living on borrowed time" or we are going to 89 weeks.
Second is the FEDERAL RESERVE has a non-routine meeting scheduled on Monday on their web-site to discuss the DISCOUNT RATE.
One technical comment on this video: on the weekly gold chart, the capital "B" wave rise in December, 2009 has a typo. It was intended to be labeled as B:3, but in error it was labeled B:5. "B" waves are always three wave sequences in Elliott theory.
a few weeks ago you were forcasting Gold to drop down to the $400 region. is that still your long term view or is that now off the table in your opinion?
many thanks
skipiste1 1 year ago
It's still the long term view, but looks like we'd close the gap at 1,150 first and possibly head to 1,186 in wave c of 2, up, first.
ElliottTrader 1 year ago
Update: it looks like we have now closed the gap at 1,150.
ElliottTrader 1 year ago
a few weeks ago you were forcasting Gold to drop down to the $400 region. is that still your long term view or is that now off the table in your opinion?
many thanks
skipiste1 1 year ago
Its been frustrating but this looks correct thanks
luvzpalin1 1 year ago
Thanks, I think it would be useful to note two other things.
The first is that even though we are likely going to make a 5th wave up of "C" to end the "Z" wave of the triple zigzag, this market rise has now been a Fibonacci 55 weeks as of last week, so the rally is either "living on borrowed time" or we are going to 89 weeks.
Second is the FEDERAL RESERVE has a non-routine meeting scheduled on Monday on their web-site to discuss the DISCOUNT RATE.
ElliottTrader 1 year ago
One technical comment on this video: on the weekly gold chart, the capital "B" wave rise in December, 2009 has a typo. It was intended to be labeled as B:3, but in error it was labeled B:5. "B" waves are always three wave sequences in Elliott theory.
ElliottTrader 1 year ago