GOLD: A Contrarian View

It seemed like a quaint secluded island where I and a few minority contrarians held out as the Gold Bulls crafted a masterful plan to take prices to new all time highs.

It Didn't Happen..... You Were Warned

As most of you know I've been pounding the table for lower prices before reaching new highs. As quick summary of previous posts and tweets can be found here. (See Gold comments)

Note: This blog post provides updated charts. I will follow up with a more comprehensive analysis via video at a later date.

At daily chart level, from the w.(B) crest, I believe that we are witnessing an initial impulse wave to the downside. If correct, we still need an up, down, up, down sequence as shown to complete w.(A) of the larger five wave structure that should draw price to where w.Y = w.W @ 1398.




I hope you found this information helpful and.....

Best of Trading

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