Goldtent TA Paradise

Sam’s updated EW take on gold

1. KenS says:

   July 21, 2018 - 4:08 pm at 4:08 pm

   I remember a year ago Sam was calling for gold to be over $1500.

2. pedro_deleon says:

   July 21, 2018 - 10:38 pm at 10:38 pm

   Yes, Ken. He did.
   And when I posted that target, I also expressed my disagreement with that view based on my own work. But we use different methods so we each have to go with what we do, when they diverge.
   As I noted above … the precise path taken in corrective waves isn’t easy to discern.
   B waves in corrections, and 4th waves in impulses, can be notoriously challenging.
   We have been in a large B wave since the Dec 15 lows, and we still have a ways to go (c of B up starts this fall and could take a year). The $1500 area is still ahead of us in that rally.

   • Bikoo99 says:

     July 22, 2018 - 8:18 am at 8:18 am

     I do agree with SAM that gold is in cycle wave b. Cycle wave a ended in Dec 2015.

     Currently there are several possibilities of wave counts for cycle wave b. One pimary count and a leading onee calls for it to top at 1300eesh and down in the cycle wave c below 1045.

     There is another alt wave count of many calls for super cycle wave IV ended and gold may be in Super cycle wave V aa mega bullish. If only if gold crosses 1377 and higher.

     EW analysis provides wide variety of counts. It is difficult to know which count is correct.

     Only price can eliminate invalid counts.

     Thanks for sharing.

3. Northstar says:

   July 22, 2018 - 4:21 am at 4:21 am

   This scenario will only happen if the dollar cycle fails for the first time in 50 years (our current monetary system). I’ll go along with this as a possibility if the dollar doesn’t break down from here into a new cyclical decline below 90 before the end of the year. 50 years of reliable dollar/gold/commodity cycle says the overwhelmingly most likely path for the dollar is down for the next few years.

4. Northstar says:

   July 22, 2018 - 4:27 am at 4:27 am

   Apologies Pedro – My comment above was intended for Fullys previous post !