Loading ...Elliott Wave Counts For Gold & Silver
PS: One EW analyst has commented that this EW analysis does not meet the EWP. So needs to be discarded.
“The good news: It is possible that all of wave *c* and .ii. are complete at the 1205.10 low and wave .ii. higher has now started.
The bad news: We will need to see how gold trades in the days ahead, but for now we are still thinking that one more drop to at least the 1204.00 low appears likely.”
I remember the Captain’s work from several years ago. And tracked it briefly.
My suggestion would be to completely disregard his work, by and large.
You know my suggestion pedro
Disregard all EW
🙂
Baby out with bath water, huh?
Well, rather than walk out leaving a vacuum .. these guys have an outlook that seems to line up well with mine.
See their short term and medium term. (Gold counts published on Wednesdays)
https://www.scienceinvesting.com/technical_analysis/bonds/gold/
Their large B up dovetails with Sam’s view albeit a slightly different count using the X wave. (My own work doesn’t do X waves.)
” There is a widespread belief that gold is a great protection against inflation. Well, it isn’t!”
I disagree. Proof is in the pudding.
2004 Zimbabwe and today Venezuela bolivar. Ig citizen of these countries had only one ounce of gold they would have been saved.
I think their long term count is different than Sams count (also EW analyst I am following). Gold is in grand supercycle wave IV. Once wave IV is complete gold will experience long term trend change to new highs.
I have no knowledge to determine which one is correct/take side.