Gold calls.Long term -medium term and intraday calls in gold is here !.

[55mph]

the longs just got decimated.

they reached way down to hit their stops.

 

[bbillcee]

PM shares going up like crazy

 

[55mph]

PM shares going up like crazy

good news (if you are still long)

 

[sujithsstorock]

get out of all shorts..!

 

[d-lod]

get out of all shorts..!

Sujith, which is good time to visit back waters of kerala?

 

[sujithsstorock]

Sujith, which is good time to visit back waters of kerala?

its rainy season now. fully floded. after october..its best time..! 😀

 

[sujithsstorock]

did u guys see the chart? it came exactly to the falling and rebounding levels...i love fibonacci. and rodin was spot on..! great to have him

 

[Wideboy]

Ok, I'd like to air my views of the market using my newly learnt elliot wave analysis 🙂

I suspect we are currently in a wave 4 of a downtrend - ie we are pulling back from a low of 736.18.
I predict a pullback to around 767 by Monday or Tuesday. From then on we see a continuation of the trend down as wave 5 starts which will take us to new lows.

I am open to all comments from fellow Elliot wave users !

 

[55mph]

the euro is catching a head of steam. not much respect from gold. (yet)

 

[TrentT]

get out of all shorts..!

Just in time 😱

 

[55mph]

we're bumping up at resistance again.

 

[55mph]

just sold my long for a flat trade. now she can go up!

 

[thod00]

I suspect we are currently in a wave 4 of a downtrend - ie we are pulling back from a low of 736.18.
I predict a pullback to around 767 by Monday or Tuesday. From then on we see a continuation of the trend down as wave 5 starts which will take us to new lows.

You have a unique count then. Most people seem to think that was wave 5. Wave 3 was the big drop we saw in Aug and wave 4 the bounce from 772 to 845. The idea is that was really A of a correction of the supercycle. So B will take us up back to close to 900 before we can have the big C down.

 

[cas84utd]

I have seen people agree with Wideboys opinion... wave 5 still to come for a new low next week...

And to be honest, I can see it too... think about if LEH get bailed / bought out over the weekend restoring confidence in the dollar, subsequent gold tumble to new low next week... then up from there...

Your thoughts?

 

[cas84utd]

Another bounce off 758... can we go through?? I doubt it 🙁

 

[Wideboy]

I have attached a chart, please excuse my MS Paint skills are minimal 🙂

Red lines waves 1,2,3,4,5 - blue lines correction A,B,C waves.
I have drawn the fib off latest wave 3 to show target pullback off current wave 4 to be around 767 before we continue wave 5 downwards.

Opinions??

 

[sujithsstorock]

I have seen people agree with Wideboys opinion... wave 5 still to come for a new low next week...

And to be honest, I can see it too... think about if LEH get bailed / bought out over the weekend restoring confidence in the dollar, subsequent gold tumble to new low next week... then up from there...

Your thoughts?

impulsive wave 3 or 5 up that is giving this rally...! :whistling .......bad joke ryt? :| lol

 

[Wideboy]

impulsive wave 3 or 5 up that is giving this rally...! :whistling .......bad joke ryt? :| lol

No correction wave 4, up from 736, target 767 then back down...waaaay back down 🙂

 

[55mph]

i'm tempted to go short. 756.70

and hold it over the weekend.

withe the euro almost at 1.42, gold's getting little respect.

 

[55mph]

besides, the euro has over head supply at this level.

thoughts