As an update to the previous post, 1201$ did act as a short term resistance, pushing the price back down to 1142 in a few days.
Now, I have marked the low at 1131$ as a Major Low for various reasons: 1st, because it has shown impulsive price action which we have not already seen since the Major Top at 10th of July. 2nd, because We've counted the Elliott Waves and this low was the end of the 5th wave and the top at 1220$ retraced 38.2% of the whole bearish wave.
So if this is our new Major price extreme, we are going to change our anchor price from 1345$ to 1131$.
I have found the daily bar in 1st December 2014 a really crazy bar. Here's why: From the low at 1131$ to this bar's top, it is 89$ difference. Also from the start of the downfall for Gold, which happened in 10th of July, to this candle's date is exactly 144 Calendar Days.
It seems to be an example of squaring in price and time.
I have opened a test trade just to meet the lows. If this analysis turns out to be true, we will be seeing new lows for gold in the following weeks.
As always, I'll be happy to hear your comments. And until next time, Take care.
The falling oil price will reduce already-low inflation still further, and so may encourage central bankers towards looser monetary policy. The Federal Reserve will put off raising interest rates for longer; the European Central Bank will act more boldly to ward off deflation by buying sovereign bonds.
economist.com/news/leaders/21635472-economics-oil-have-changed-some-businesses-will-go-bust-market-will-be montazere entaghadat va rahnamayi shoma hastam.
DavoodWadi
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A solid fundamental outlook you have Aboozar.
Do you have academic education in Economics or Finance?
Ansari
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Master of Science in Mathematics and a Master of Economics.
and you please?
DavoodWadi
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Fascinating!
I'm seeing a potential Macro-Economic discussion here!
I'm majoring in Petroleum Engineering and Minoring in Economics. I'm looking to continue my education in Finance.
Ansari
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very nice!!
karet doroste mohandes.
Energy economy is the best option for you.
which university??
DavoodWadi
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Thank you Aboozar,
You also!
Sharif University of Technology
Ansari
⋅
+++++++++++++++++++
agha ma mokhlesim
ma eradat khedmat bachehay sharif darim.
az ham sohbati ba shoma khili khoshhalam.
alan kojayi ,iran or US or ......?
DavoodWadi
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I'm also very glad to meet a knowledgeable man like you.
It's been a great pleasure for me.
I hope to hear from you again soon in your ideas or mine.
I'm currently in Tehran
Ansari
⋅
man ham az ashnayi ba ostadi chon shoma khoshhalam.
omidvaram ke az estedad ,danesh va tajrobehay shoma bishtar estefade konam.
amirkabir university(math) and alameh (economic)
DavoodWadi
⋅
Your modesty is admirable.
I have a lot of respect for Amirkabir graduates and Allameh graduates and you turn out to be both.
So 2 thumbs up and heads down for you.
I also hope we can work together to crack the code of the markets! ;)
The falling oil price will reduce already-low inflation still further, and so may encourage central bankers towards looser monetary policy. The Federal Reserve will put off raising interest rates for longer; the European Central Bank will act more boldly to ward off deflation by buying sovereign bonds.
economist.com/news/leaders/21635472-economics-oil-have-changed-some-businesses-will-go-bust-market-will-be
montazere entaghadat va rahnamayi shoma hastam.