Good trading
Fib
Elliott Gold Count (continued)
Started by
fib_1618
, Oct 13 2008 08:41 AM
18 replies to this topic
#1
fib_1618
-
- Traders-Talk User
- 10,173 posts
Member
Posted 13 October 2008 - 08:41 AM
Better to ignore me than abhor me.
“Wise men don't need advice. Fools won't take it” - Benjamin Franklin
"Beware of false knowledge; it is more dangerous than ignorance" - George Bernard Shaw
Demagogue: A leader who makes use of popular prejudices, false claims and promises in order to gain power.
Technical Watch Subscriptions
#2
cgnx
-
- Traders-Talk User
- 2,103 posts
Member
Posted 13 October 2008 - 10:10 AM
Anybody know what that chart means? or portends?
If it can be cornered, it will.
#3
johngeorge
-
- TT Member+
- 4,616 posts
Member
Posted 13 October 2008 - 11:07 AM
Anybody know what that chart means? or portends?
To me it looks like a
Symmetrical Triangle (Continuation)
http://stockcharts.c...trical_triangle
Peace
johngeorge
johngeorge
#4
cgnx
-
- Traders-Talk User
- 2,103 posts
Member
Posted 13 October 2008 - 11:10 AM
Could be a polygraph test? I assume with the triangle pictured he is alluding that we trade within that range until it doesnt. My guess.
If it can be cornered, it will.
#5
Jnavin
-
- TT Member*
-
- 2,126 posts
Member
Posted 13 October 2008 - 11:55 AM
Short-term bullish...to about 950 or so.
Long-term bearish...back down to 550.
#6
Islander
-
- Traders-Talk User
- 2,551 posts
Member
Posted 13 October 2008 - 12:01 PM
This pattern in the gold market is indeterminate as a rule, but in the EW framework the breakout direction is usually the entry pattern direction and it tends to be about half of the amplitude. I think bullish is 60% probable.
That plus the current actions of the Fed are pointing up. If not we wait, the outcome of current policy is not in question: it is inflationary and gold must rise.
Best, Islander.
That plus the current actions of the Fed are pointing up. If not we wait, the outcome of current policy is not in question: it is inflationary and gold must rise.
Best, Islander.
#7
dharma
-
- Traders-Talk User
- 9,667 posts
Member
Posted 13 October 2008 - 12:22 PM
i agree. however, if the deflationary tidal wave continues to assert dominance, i think that too will be bullish for the metal. so called money today, is all debt and a debt implosion leads us to real money which has no debt. dharmaThis pattern in the gold market is indeterminate as a rule, but in the EW framework the breakout direction is usually the entry pattern direction and it tends to be about half of the amplitude. I think bullish is 60% probable.
That plus the current actions of the Fed are pointing up. If not we wait, the outcome of current policy is not in question: it is inflationary and gold must rise.
Best, Islander.
Edited by dharma, 13 October 2008 - 12:24 PM.
#8
cgnx
-
- Traders-Talk User
- 2,103 posts
Member
Posted 13 October 2008 - 12:55 PM
Way to think outside the box Dharma. I say either way gold goes up too. Your Momma wears Crox. 
If it can be cornered, it will.
#9
Jnavin
-
- TT Member*
-
- 2,126 posts
Member
Posted 13 October 2008 - 01:00 PM
The "A" wave up (from the "Y") is a 5-wave structure, so it could be a 1.
If Gold closes above the "X" wave, the down count is negated.
#10
senorBS
-
- TT Member+
- 11,072 posts
Member
Posted 13 October 2008 - 01:09 PM
The "A" wave up (from the "Y") is a 5-wave structure, so it could be a 1.
If Gold closes above the "X" wave, the down count is negated.
This Senor agrees with
NO BS
Senor
