Last week, I published this post . I deliberately posted that at a time that Gold was dropping to see how many of you would believe or if you were too short-sighted and could only see what was happening at the moment. So now the question is, how many of you believed my post and had the courage to BUY at a time Gold was falling? Or at least exercised proper PATIENCE and waited for price action to tell you when to buy?
This is why we use, apply and follow wave counts. You can see in my post last week that I showed you that the drop in Gold at that time I saw as a wave (ii). I pointed out that if I was correct about that drop being a wave (ii), then of course, there was to be a wave (iii) to follow. And of course, in wave trading, we are always wanting to catch a wave 3!
And that is what we are in right now. I issued the call to BUY on 11/28 and those that heeded my call are now up +130 pips. And we are looking at MUCH, MUCH more profits to come. But first, there is a STRONG RESISTANCE structure just overhead that Gold must break over in order to continue higher, And I expect it will.
Good luck to you. If you want more info, PM me or look to my links below.
Comment
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Anyone still doubting the power of wave counting? I posted that this was about to start on a wave (iii) and so far, even without knowing anything about the NFP, that is exactly what Gold is doing right now....heading up in an strong impulsive wave with MORE to go! So far, everyone who received my trade call are now +259 pips one Trade #1 and also +259 pips on Trade #2! So that is +518 pips on 2 trades I issued 11/28. Much before the release of the NFP. I can only hope that anyone who saw my post and listed to me got in. Gold is in a bull rally now.
What is that I, II , III? Do you mean A, B , C? If there is I,II,III then you have to have IV and V
EverythingForex
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@theTraveler2018, I have not posted the iv and v because at this time, it is pointless to try to see that far ahead. Why would you care about the iv an v now? I only care about the iii and will start projecting the iv and v later when there is more data and price action available. I update my charts in Gold and many other fx pairs/commodities twice a day and publish it to my subscribers. When there is enough data for me to project the iv and v, I'll mark them.
theTraveler2018
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@EverythingForex, Ok Thanks. I'm waiting to short Gold thats why :) . Ok Best of luck
EverythingForex
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@theTraveler2018, Are you thinking Gold is going to drop? Or are you just looking to trade a correction? You might need to wait some time if you are looking for a reversal. But can I ask why you would rather wait for a short when this is very much now in a up trend? I also wish you luck whatever it is you are looking to do though.
theTraveler2018
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@EverythingForex, I dont think the Gold will drop at once. But later I think it might go down quite a bit. The risk / reward is to low for me to get in right now. I wanted to get in at 1215 with stop loss at 1995 (2005) but I chicken out. I have to wait now for a new set up.
EverythingForex
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@theTraveler2018, I applaud you for your discipline in staying within your trading limits. Most would not have such discipline. Even if I am net bullish on Gold, the long term outlook on Gold is bearish, IMO. So we agree there. But in the same breath I say that, I am also saying that Gold for the foreseeable future is bullish. That BIG drop I think you are referring I project not to happen for some time. So anyone waiting for that better be very PATIENT. We will get some substantial pullback in Gold somewhere along the way up but that would be a correction and not a reversal, IMHO. But we'll see. I don't claim to be 100% correct. No one should. But I really don't care whether my analysis is right or wrong. I only care that I'm making money. And of course, that requires that I be on the right side of the market. Not fighting it. If I am wrong, I just adjust and get back on the right side. That is the attitude I try to instill in all who learn from me.
Hiep_Khach_Hanh
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have a good job but
Hiep_Khach_Hanh
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@Hiep_Khach_Hanh, i think it will drop around 1227 before rising again 1262
EverythingForex
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@Hiep_Khach_Hanh, don't mistake the arrows to mean that I think this is supposed to go STRAIGHT UP! That is not the meaning of the arrows. Arrows only indicate direction. In any wave, even wave 3's, of course there will be pullbacks...small or big. So if it pulls back to 1227, so what? That's expected. If it doesn't, great. If it does, great. in the end, if and when it reaches anywhere near to my target, none of that matters, right?