so roughly that's what i'm thinking for things on gold - now obviously it aint gonna go vertical - however had to draw in limited space.............so that vertical line could likely take a couple of yrs to play out..........
so it turns out that these charts are uploading but not displaying in screenecast -so if u want to view em just click download........if u feel that way inclined of course lol anyways there they are http://www.screencast.com/users/BN.c/folders/Commodities/media/9164e391-580f-4076-994c-77d5a029c8c8 1st one zoomed out for perspective showing the main count in black 1 2 3 4 complete & in 5 http://www.screencast.com/users/BN.c/folders/Commodities/media/78c5eb8c-177f-4299-bbad-5a4ecb8bef7d 2nd one zoomed in a little to show how w5 is breaking down into waves i ii iii iv and now v my guess is that the EWI guys aint gonna be far wrong with this one and gold may well be a buy over the next few months - explained previously that this w5 was unfolding in what appear to be 3 wave patterns in each move down & up - so that being the case and typical of an ending diagonal or wedge then this current move down need to complete - a further upward 3 wave move happen then the final move downwards should complete i reckon
regardless however, remains as still in downtrend since 2011 with lower highs & higher lows continuing
but possibly a decent trade opportunity not too far around the corner for a reasonably decent counter trend buying opp.....
this appears to be dividing itself into typical 5th wave ending diagonal patterns whereby each wave so i ii iii iv & v all move themselves in contracting size & themselves move in 3 wave patterns
(sorry can't do any scribbles as aint worked out how to do em on macbook even tho that's what these things are supposed to be brill at aint they??)
now for the pattern to continue i'd expect this move to wrap up for a (wi) then a smallish bounce to (wii) then a final push lower for (wiii) of v of 5 of A - A being as mentioned many times only the first leg of this down leg & has taken over 4 yrs so far and may again as mentioned when quoting EWI's outlook on commodities take a few more weeks / months to complete. They did say towards end of this year or early next for a corrective rally which could last a couple of yrs or more - US$ dependent!!!
only thing that aint so brilliant at the mo is the macd & rsi oscillators - typically they should be diverging v trend i.e. going the opposite way v price as the trend weakens
again another thing is the actual shape of the diagonal which is very....... well not far from parallel (the two lines shown contracting)
ig index has a low of $1077 on 24th July this year which we've not breached as yet so no new low seen on IG - dunno bout elsewhere however.
so this move down then - then a 3 wave up - then a final leg down is my view on things seeing what i can at the mo.....
good luck all (except the disgusting low lives that continue to post their bile here & u know who u are!!!)
Indeed excellent results. Last week INCH announced equally impressive results expect VTU to follow suit. I absolutely love the 'Move Me Closer' concept. How many times you seen a car advertised but didn't bother to travel as it was too far away? Problem solved, great idea.
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