Heads up speculation on 11/11 etc.
Most wavers put the A wave low for gold at Dec 2015. (off 2011)
Everyone has struggled with the structural form of the B. No real surprise. Bs and 4s are tough.
Several wavers have B forming an upwards CORRECTIVE triangle. With this recent move off summer lows as e.
Its been ragged. But … if correct, e would mark the END of the rally from Dec 2015. I kid you not.
See Horvat today for the local count.
Interestingly, he’s got a red E) at the top of his chart. And something hidden above (blue B?)
Yeah, but what does this have to do with Q and 11/11 ?
That’s where the speculation comes in.
Lets assume there’s military action and gold and crude shoot up Monday.
But its resolved fairly quickly. Within a week or two.
Be ready for it to be a spike and HARD reversal. On dollar strength that ensues.
TWT.
there could be other wave count for cycle wave b. Currently triangle is preferred. Next one could be double ZZ.
All wavers do agree that gold has cycle wave c still needs to be completed before a bull in PM sector.
What is the target for wave e?? it can not go higher than wave c. I do not know where is wave c is??
In triangle Wave c at 1365 and wave d ended at 1160??? If gold surpass 1365 triangle will be invalided.
Thats why I have been watching gold to cross this pt.
BUT indicator GSR is not cooperating.
[Sent a response to B99 using a chart; so I couldn’t response publicly since charts are restricted to posts.]
Thanks for sharing your thoughts on that. Appreciate it.