broughro
Long

(B) potentially ended and bullish potential abounds to 150

AMEX:GLD   SPDR GOLD TRUST
100 1 1
(a) (b) (c) correction fulfilling minimum requirements for (B) where (c) equaled 1.618 of (a) at 118.45.

Looking long now for minor wave (C) to end at 150, or $1500 cash before resuming major bear in gold             .

But, good money to be made in (C)...close out if price drops below 117...next target for end of (B) would be 112, but I don't think we're going there until after (C) ends...

I leave my red text on the chart from 7 months ago for s&g... ;-)
Trade closed: stop reached: Looks like the A B C correction will become more complex and continue to the lower target around 112 for (B)...

neutral for now until we see a logical end to (B) and a small motive wave up...then go long...
Trade active: The lower target at 112 has been reached and it seems to be ending a 5 wave movement. So the (a)(b)(c) correction extended to an (w)(x)(y)(z) with (z) ending as an impulsive wave, as it should.

Long now to ~146 to complete the major (A)(B)(C) bear correction...it should be a fairly violent impulsive wave up...let's see how it plays out
95.18 to 98 is a HUGE move in DXY......Besides other reasons on why traders and investors sold gold, this is a HUGE reason, and the prime reason usually. There is MORE upside left in it and therefore, it will snatch gold by its tails and pull it down further. Once the resistance is hit on DXY, we can expect Gold to bounce upwards. Ms Yellen needs to say that she is not inclined to raise rates and bang, there goes the DXY down. Of course, the Brexit news, Euro news and any other news from China/Japan does not help, but its a damn complex equation with DXY. In either case, you have my views.....Lets see how it unfolds.
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