Sam’s EW outlook for gold
At one point, Sam held the view that we’d get a fairly powerful move north in an (orange) c of Green B.
But this has dragged out in time, and been weak in price, so a triangle count has taken over for Green B.
Silver has reinforced that more cautious view.
This outlook parallels HZJ’s triangle B structure, but gives bulls a good bit more time before it completes.
And my take (pedro here) is that it ALL comes undone on a dollar rally some ways ahead, that is really more of a euro/yen/yuan implosion instead. So the center holds for a time. Until it too, crumbles.
Yep current EW count for cycle wave b may be triangle. One credible Elliott wave analyst has been on this count for a year.
It appears it may come to end by end of jan 2019 and gold may slide in to cycle wave c to lower than 1045.
BUT there is another possibility of double ZZ which is very bullish by the same analyst. If gold crosses with any amount higher than 1365 this triangle count should be discarded.
So all gold bulls should hope for is that gold trades above 1366.
??? Once cycle wave b is complete what duration will be for cycle wave c to complete??
Completely dismal prognostication. If it plays out it’s untradable for now.
I am no EW guy but I find this to be a real stretch bordering on “making stuff up”