You probably know this already but Robert Prechter is gold bear. Like you I like to remain neutral but there's nothing better than making quick money on the down side when this golden arc becomes a golden waterfall. When it happens it will probably be a bigger landslide for silver too. It'll be a 2 for 1 sale LOL
Yes, Mr. Prechter believes gold is in a "B" wave that is ending nor or very very soon and then a C wave down is likely. Looking back longer, that does seem to be a logical count, and B waves can make new highs so the new high does not negate this count.
Much more upside in gold and we'll have to question just how 'corrective' this rally is.
Name
· 1 month ago
I can see 5 waves in gold from the last impulse.........
Es tostado soon.
Corey Rosenbloom, CMT
· 1 month ago
I actually labeled the 5-wave progression up before taking it down and choosing to focus only on the arc to simplify the chart.
Absolutely - clean progression up that - if the arc is broken - will be a powerful short-term sell signal, given that yesterday ended in a doji at the upper Bollinger Band (also not shown).
Name
· 1 month ago
Corey, thanks for your reply. The $USD is bouncing strongly on the unemployment report. This might be it.
.
sandew
· 1 month ago
"But gold might be the exception, because it represents ‘real money’ and more people are questioning the global paper money system, Prechter is reported to have said on Nov 7th. He believes while commodoties,stocks , debt, emerging markets will slide in wake of possible dollar strength soon; but not gold. (source investment postcards)
All Comments
You probably know this already but Robert Prechter is gold bear. Like you I like to remain neutral but there's nothing better than making quick money on the down side when this golden arc becomes a golden waterfall. When it happens it will probably be a bigger landslide for silver too. It'll be a 2 for 1 sale LOL
http://www.theglobeandmail.com/globe-investor/e...
All the best,
Dan
Yes, Mr. Prechter believes gold is in a "B" wave that is ending nor or very very soon and then a C wave down is likely. Looking back longer, that does seem to be a logical count, and B waves can make new highs so the new high does not negate this count.
Much more upside in gold and we'll have to question just how 'corrective' this rally is.
Es tostado soon.
Absolutely - clean progression up that - if the arc is broken - will be a powerful short-term sell signal, given that yesterday ended in a doji at the upper Bollinger Band (also not shown).
.