Short Term Trading Member Forum

[techcharter]

E-Wave on GOLD!

Sunday night when I saw the headline that gold fell 4% I immediately had to see what the wave count was. The big picture is now COMPLETELY obvious. Gold has a week or two before the Wave A bottom is in place, maybe the $900-1000 range. Then a set it and forget it 40-60% Wave B rally over 18 months.

Wave A breaks down as follows:
Wave 1 September 2011 high to September 2011 low.
Wave 2 September 2011 low to November 2011 high.
Wave 3 November 2011 high to November 2014 low. (Extended)
Wave 4 November 2014 low to June 2015 high. Triangle
Wave 5 June 2015 high to in progress.

Note how quickly Wave 1 unfolded. Less than a month. Wave 5 is showing similar speed qualities. For Wave 5 to be proportional to Wave 1 in price, it would have to fall to $965.