Hello traders! Gold reached the estimated goal of $ 1804. I think the impulse is complete. As soon as the price crosses $ 1754 and breaks through the channels, it is highly likely that a reversal has occurred. I expect the price to fall.
Oh ... a professional knife catcher. How nice to meet you. Heard that your kind have a relatively short life expectancy. You know, catching all of them flying and falling knives.
jamesw4
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Good day from South Africa,
I'm grateful to find analysis like yours that recognizes this move in Gold starting from 2015/2016 has been a bear market rally all along.
I subscribed to E.W.I. for a while(when the USD/ZAR rate wasn't choking me) and they were also saying, "bear market, bear market, bear market...."
Lately i started to wonder if they had got it wrong. I mean Gold @ USD1800, phew, in my books that's cutting it close!
So now I'd like to catch the bounces on the way down( waves 2 and 4 if i'm not mistaken) hope that you'll alert us.
Dzinsai
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@jamesw4, Hi. I will post my analysis and forecasts on a regular basis.