piphunters
Short

GOLD: A COMPLETE WEEKLY TRIANGLE?

FX:XAUUSD   Gold/U.S. Dollar
Do we have a weekly triangle that's complete and turning down signalling more downside for gold             or am I forcing one out of the woodwork? If so that's a lot of downside!
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arif_awan
a year ago
but its a double bottom, strong reversal signal!!!
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piphunters arif_awan
a year ago
let's see how it goes
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Will Wong
a year ago
Looks like a descending wedge that should break to the upside.
+1 Reply
bracken
a year ago
There is no way you can label your 1.2.3.4.5 as an impuls. I honestly believe you have broken every rule in EWT there is. For example 3.3 is the shortest wave in 3

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piphunters bracken
a year ago
it's subjective isn't it, my 3.3 may not be your 3.3 right?
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bracken piphunters
a year ago
No it is not subjective given the wavecount you already have shown
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piphunters bracken
a year ago
I haven't given the internal structure of 3 so how are you so sure that it is wrong when I did not show the count.
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bracken piphunters
a year ago
Please do show me
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piphunters bracken
a year ago
take a look on the daily time frame and you can see a clearer picture of the internal wave. I am taking 3 to start from 2013/04/10
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bracken piphunters
a year ago
OK so your wave 3 starts 2013 04 10. Please go on
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bracken bracken
a year ago
I do not want to torture you. Everyone can make a mistake and we are here to learn of each other. There is no way you can fit in an impuls between the starting point and the ending point you have already shown above.
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piphunters bracken
a year ago
you are not tutoring me and if you believe that it's wrong then have it your way. Cheers
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cfetrader
a year ago
Hello everyone. I wish to enter this vivacious discussion to add the following possibility for consideration. Before issuing a final verdict of further decline in the price of gold, let us consider that there are 3 potential patterns still in play (all bullish by the way), 2 three drives and a Wolfe wave.

snapshot
+2 Reply
tntsunrise TOP cfetrader
a year ago
AGREE WITH THE BULLISH
+3 Reply
piphunters tntsunrise
11 months ago
hello, don't you think with the FED is expected to keep on hiking interest rates, that will keep weighing on gold adding more bearish pressure?
+1 Reply
cfetrader piphunters
11 months ago
Hello Piphunters. How the Fed decisions from now on will affect gold & dollar, that remains a big puzzle, even though both these assets are usually inversely correlated. Nothing surprises me any more, even a possible in tandem movement. As a technical analyst, I try to look at what the patterns (e.g. 3 drives, WW & EW) are telling us. I have just published a long term scenario for gold, which you might find interesting.
+1 Reply
piphunters cfetrader
11 months ago
possible scenario you have there, let's wait and see.
+1 Reply
Poseido2Gabriel
11 months ago
Nice, looks like a market maker's chart. Not very much bullish till April from a cyclical point of view IMHO
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mhctrader
11 months ago
GOLD reversal signal
Completely opposite of you! good luck....
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cfetrader mhctrader
11 months ago
Mhctader, in Piphunters defense, his chart at the time looked as if gold prices would spill over "towards the abyss". One cannot be criticized for an 8 day old forecast, knowing what is happening now. It is like being a "prophet" after the event. At any instant there are always 2 possible trend outcomes, and we all use technical analysis (filtered mostly through our subjectivity) to decipher the direction that has more probability of materializing.
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mhctrader cfetrader
11 months ago
I wasn't criticising him. I was saying good luck - may the best man win.
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