For all you E. Wavers, next week could determine the mid term direction of the XAU...
These charts are posted with permission from: WaveSpeak.com.
Possible XAU Wave 3 Extension
Started by
The_Gold_Miner
, Nov 14 2003 10:43 PM
4 replies to this topic
#1
Posted 14 November 2003 - 10:43 PM
#2
Posted 15 November 2003 - 06:30 PM
How 'bout we are in wave 'b' of 4 of C. The 5 week cycle and the 8 month cycle suggests we go down first to $370 gold and 92.50 XAU then up.
blu
#3
Posted 15 November 2003 - 09:16 PM
Hi Blu... I am not a fluent wave chartest although I do follow them. Could your post your chart with the counts so I can see what your refering to?
Thanks
#4
Posted 15 November 2003 - 11:16 PM
It's easy. Just adjust wave 3 over to the previous top 7 weeks ago, call the next bottom 'a' of 4 and the current top 'b' of 4. Otherwise, your wave counts look pretty good. I'm impressed. Also, could this be 1 of C as an alternate? If this is C, then $320 gold would be expected in the future correction. If not, then $370.
The more I look at things, the more bullish I'm starting to get on gold. A 10 % correction on the XAU is warranted here after Monday's expected top from what I see. It's after that where I see some real potential, especially in some mining stocks I'm looking at.
My expectation for BGO is being fulfilled in the $3.70's to $3.80's as I did recommend it at $2.85 the week before last for a run to this area.
$370 on gold would be my expectation for the coming correction.
Brad Gudgeon
http://www.blustar.info
The more I look at things, the more bullish I'm starting to get on gold. A 10 % correction on the XAU is warranted here after Monday's expected top from what I see. It's after that where I see some real potential, especially in some mining stocks I'm looking at.
My expectation for BGO is being fulfilled in the $3.70's to $3.80's as I did recommend it at $2.85 the week before last for a run to this area.
$370 on gold would be my expectation for the coming correction.
Brad Gudgeon
http://www.blustar.info
#5
Posted 16 November 2003 - 10:21 AM
I found this comment interesting:
Looks like 3 different views on the XAU now.
Steve Hochberg has not had a confident opinion for the XAU and has not published a chart in some time.
Regards,
Tom
Thomas E. Denham
Elliott Wave International
Looks like 3 different views on the XAU now.