5 replies to this topic

[gannman]

my take is that gld has been doing an abc correction since aug 2

 

the c wave started nov 9 and we have completed i think waves i ii and iii and should be entering a wave iv rally before a final bottom further out here 

 

so i am expecting some kind of rally here which should not really go much thru 115.5 

 

thats my take fwiw 

[gannman]

the miners have probably already bottomed 

[tsharp]

Just thinking of a possible LT count and IT path for gold before a bottom is in... time will tell.

 

Link to gold chart:  http://postimg.org/image/uqwcp30m1/

 

[tsharp]

Sorry... the c-wave upward to wave-B, should have been five waves, not three waves:  http://postimg.org/image/r8kcsozq1/

 

[dougie]

Interesting count sharp
You staying out then?

[tsharp]

I've been long SPY for the IT swing... when I see a convincing five waves down on gold, which may truncate with a higher-low, then I would be a buyer... I do own physical metals purchased some 10-15 years ago.