AI
Thursday, August 17, 2017 6:54:42 PM
Looking at Gold long term wave patterns...
A "Wave 3" rally should be the biggest soaring rally wave of the whole pattern. That has not happened so far....but lets be uber bullish and say that the "Wave 3" will happen in 5 subwave portions, and we only have the wave 1 subwave so far, plus the wave 2 subwave pullback to retest 1200 area, and ok....what this would mean, in counting these Elliott waves, is that we are in process of having the subwave 3 of Greater WAVE 3, and that means as soon as the gold price pulls back now, to retest the key moving averages around 1230/1240 area, somewhere in this pullback zone, we should see a giant rally in spot gold, surge thru 1300, thru 1330, targets 1375 topping zone and maybe then pauses for a moment so that it can target 1400. and Then makes the sideways sliding Wave 4, that might retest 1350 area, but not 1300...and from 1375/1350 area, continues to target 1480 area and ...well, lets see if that starts to happen soon. It should begin now, in this 1240 area Holding, or 1220 area Holding, the Subwave 3 of 5 of WAVE 3 is ready at the launch pad now. Do you think we are ripe for a great big rally in Gold now. All the media spin is talking like it. I don't think it will happen.
I think it will go like this instead.
A "Wave 3" rally should be the biggest soaring rally wave of the whole pattern. That has not happened so far....but lets be uber bullish and say that the "Wave 3" will happen in 5 subwave portions, and we only have the wave 1 subwave so far, plus the wave 2 subwave pullback to retest 1200 area, and ok....what this would mean, in counting these Elliott waves, is that we are in process of having the subwave 3 of Greater WAVE 3, and that means as soon as the gold price pulls back now, to retest the key moving averages around 1230/1240 area, somewhere in this pullback zone, we should see a giant rally in spot gold, surge thru 1300, thru 1330, targets 1375 topping zone and maybe then pauses for a moment so that it can target 1400. and Then makes the sideways sliding Wave 4, that might retest 1350 area, but not 1300...and from 1375/1350 area, continues to target 1480 area and ...well, lets see if that starts to happen soon. It should begin now, in this 1240 area Holding, or 1220 area Holding, the Subwave 3 of 5 of WAVE 3 is ready at the launch pad now. Do you think we are ripe for a great big rally in Gold now. All the media spin is talking like it. I don't think it will happen.
I think it will go like this instead.
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