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Great analysis. Anxiously waiting to back up the truck and load the boat. Thanks.
Gold will not go below 1033.90, if that low. The low this week was 1072.30 and closed at 1098.40. Rambus’s EW analysis will be proven to be incorrect, I respectfully submit!
681.00 to 1923.70=1242.70 points from major low to high. Correction cannot fall below previous major high at 1033.90 which is equal to a correction of 889.80 points or 71.60%.
Thus far Gold has corrected 851.40 points or 68.9%. At the very most Gold cannot fall more than 38.4 points below 1072.30.
Gold is approaching a major low!!!!!!!!!!!!!!!!!!
Riverbirch, I am following an EW ABC correction hitting 1040 then up to 1500 before the final fall to 750. 1040 is crucial.
Riverbirch
Welcome to TA Paradise
Important correction
Rambus Work is NOT EW
It is Chartology
2 completely different Technical Analysis Disciplines
Sort of like Protestants and Catholics are Christians
🙂
EagleSeagle Thanks for your response. Believe we are on the same page. A small bounce and then a decline to your 1040 area would be great! I know Gold will not fall below 1033.90 on the decline. Then a nice upward move as you pointed out.
Trying to be patient!
Riverbirch, I have been following Rambus and EW for 3 years. Have to conclude, Rambus has been much more accurate. Again, 1040 is crucial. Project, monitor, and adjust.