# Gold correction e-wave so far

### #1

Posted 15 December 2011 - 12:11 AM

### #2

Posted 15 December 2011 - 11:34 AM

From the 1923 top, wave A down was 388 dollars. If C=A target will be 1416

If we are correcting the move up from 681, a 38% retrace would target 1451, 50% would be 1302!

Wave B up was 269 dollars, a .693 retrace

Wave 1 of C down was 137 dollars

Wave 2 of C was 100 dollars, a .73 retrace

Wave 3 of C targets are 1545(if wave 3 is 1.62 of wave 1) and 1493 (if wave 3 is 2x wave 1).

Time:

Wave 1 of C was 15 days, wave 2 was 32 days. Wave 1 of 3 was 8 days. Wave 2 of 3 was 9 days.

Thursday will be day 8 of wave 3 of C.

If we can hold this double bottom area around 1545, then we can possibly have a descending flat bottom triangle, with a D up and E down still to come. In this case the C wave is composed of only 3 waves. Another support for this possibility is that $28.00 is the bottom tine of my silver pitchfork on the daily chart. We got down there last night and it is still holding here on Thursday morning.

### #3

Posted 15 December 2011 - 11:44 AM

From the 1923 top, wave A down was 388 dollars. If C=A target will be 1416

If we are correcting the move up from 681, a 38% retrace would target 1451, 50% would be 1302!

Wave B up was 269 dollars, a .693 retrace

Wave 1 of C down was 137 dollars

Wave 2 of C was 100 dollars, a .73 retrace

Wave 3 of C targets are 1545(if wave 3 is 1.62 of wave 1) and 1493 (if wave 3 is 2x wave 1).

Time:

Wave 1 of C was 15 days, wave 2 was 32 days. Wave 1 of 3 was 8 days. Wave 2 of 3 was 9 days.

Thursday will be day 8 of wave 3 of C.

cedartree:

Your Count? (except I have top at 1,917):

http://stockcharts.com/c-sc/sc?s=$GOLD&p=D&yr=0&mn=8&dy=0&i=p59410583119&a=251081421&r=842.png

And a more complex alternative if this Wave C bottoms before 1,516:

http://stockcharts.com/c-sc/sc?s=$GOLD&p=D&yr=0&mn=8&dy=0&i=p59410583119&a=251082785&r=444.png

stubaby

### #4

Posted 15 December 2011 - 01:47 PM

### #5

Posted 15 December 2011 - 02:19 PM

In the world of 0 and 1: "austerity" is the right thing to SAY; "spent more, print more" is the right thing to DO.

"You miss 100% of the shots you don't take."

~ Wayne Gretzky

### #6

Posted 15 December 2011 - 03:08 PM

From the 1923 top, wave A down was 388 dollars. If C=A target will be 1416

If we are correcting the move up from 681, a 38% retrace would target 1451, 50% would be 1302!

Wave B up was 269 dollars, a .693 retrace

Wave 1 of C down was 137 dollars

Wave 2 of C was 100 dollars, a .73 retrace

Wave 3 of C targets are 1545(if wave 3 is 1.62 of wave 1) and 1493 (if wave 3 is 2x wave 1).

Time:

Wave 1 of C was 15 days, wave 2 was 32 days. Wave 1 of 3 was 8 days. Wave 2 of 3 was 9 days.

Thursday will be day 8 of wave 3 of C.

cedartree:

Your Count? (except I have top at 1,917):

http://stockcharts.com/c-sc/sc?s=$GOLD&p=D&yr=0&mn=8&dy=0&i=p59410583119&a=251081421&r=842.png

And a more complex alternative if this Wave C bottoms before 1,516:

http://stockcharts.com/c-sc/sc?s=$GOLD&p=D&yr=0&mn=8&dy=0&i=p59410583119&a=251082785&r=444.png

stubaby

Stubaby, Thank you for posting such accurate charts of my two possible counts. Your use of 1917 for the top would make my A wave 24 days instead of 15. Now I notice that my time counts are all wrong! This is what they should be:

Wave A: 15 or 24 trading days (1923 or 1917 top)

Wave B: 32 days

Wave 1 of C: 8 days

Wave 2 of C: 9 days

Wave 3 of C: 8 days ( as of 12/15)

### #7

Posted 15 December 2011 - 03:37 PM

just discovered this site:

http://www.tradinglo...03/Default.aspx

if you scroll down a bit, they got some charts with EW counts on gold.

Might be of interest to some here.

gis

### #8

Posted 15 December 2011 - 04:41 PM

Thanks, gismeu. Peter seems to have the same count so far. I don't know what time zone he is in, but his posts are a whole week ahead of us!Hi,

just discovered this site:

http://www.tradinglo...03/Default.aspx

if you scroll down a bit, they got some charts with EW counts on gold.

Might be of interest to some here.

gis

### #9

Posted 15 December 2011 - 10:15 PM

### #10

Posted 15 December 2011 - 11:47 PM