Replies to post #46704 on Short Term Trading Member Forum

[techcharter]

OddLot - Good Chart

After looking at this chart I have a different perspective on the e-wave count for gold.

Count 1:
2009 high to July 2011 low - wave 4 triangle
July 2011 low to August 2011 hi - wave 5 thrust
August 2011 hi to present - larger wave 4 triangle
Larger wave 5 up to take place

Count 2:
2009 high to August 2009 low - wave a of flat
August 2009 low to August 2011 hi - wave b of flat
August 2011 hi to present - wave c (ending diagonal) of flat triangle.
Larger wave 5 up to take place

[SilverSurfer]

Swiss bank UBS — the most accurate gold analyst for the past three years — expects gold to peak at $2,500 this year.