Loading ...To Rmcalm,
This is the count I have.
It is possible that we had an ABC-X-ABC-X-ABC (triple zig-zag) for wave II.
It is also possible that we have an higher degree for this correction. This will fit with Rambus/Plunger view of more weakness.
Looking at the top in 2011, we have a wave structure from 1920 to 1050 that fits this type of correction. So this is why I am assuming that 1050 was the low, jmho.
In conclusion: we can be in an X-wave or a third wave. In both case, I am expecting 1500+ short term.
I don’t trust EW above Intermediate wave …
Ty gabe.. truth is we will now know until we get that move up which count is preferable..I am keeping an open mind tho and will let the price action decide for me!! Great ew work I really like your charts.
Copy that. A while back I too had 1500 in mind to sell on strength but rule of alternation suggest wave 4 might be mild unlike 2 that almost break 78% fibo, then it may be risky to get off the train.
“gold in the coming week has the largest positive change in sentiment in over a year!” …..Dr. Cari Bourette, of MarketMood.net,