50% retracement of historical swing - Was that the bottom ? Long

Gold/U.S. DollarFXCM

Description

⋅ Feb 9, 2016 4:46 PM

Looking on a long term perspective of gold (the longest obtainable on the charts).

We've done a full 50% retracement of the entire historical gold bull market, going back 15 years.

Was that enough to to give us a low, at least for the next coming years ?

Comments

AlanSimpson

⋅ Mar 10, 2016 2:12 AM

It would be helpful to see the EMA where there is some confluence,on your helpful chart ,

sallyh

⋅ Feb 9, 2016 5:16 PM

If this is so, I would read the peak as the first phase and the dip as the second phase. The third phase should be up in proportion but not less than the first phase. Quite a way to go? Bullish.

investment

⋅ Feb 9, 2016 5:22 PM

Yes good point - If you're a E.W. analyst, then the long term target is a long way yet