gold's fourth corrective waves

[d-lod2]

Hey guys

what would be bottom of gold's correction?

 

[scose-no-doubt]

Wait a minute...

Erm...


1400

 

[Lightning McQueen]

Not necessarily, gold is not economically sensitive in the way other metals are. Very little of the gold that is produced is used in economic production, most is just tucked away in vaults.

For a long time gold was used by central banks to guarantee their currency - at any time you could exchange your dollars, pounds, francs etc for gold - but they no longer do this, you just have to sit and watch them hit the print button instead.

Despite this, it is still true that gold represents a 'true' value rather than a paper promise.

So gold is safer than holding currency in times of uncertainty. It is also seen as an inflation hedge.

your post took a lot of thought and knowledge.

thanks for sharing someone elses blog reply comment from 7 months ago :whistling

http://goldfuturesprices.org/is-gold-price-near-a-big-correction/#comment-5850

muppet

 

[wackypete2]

Any idea what this is all about?? There's a serious influx of these people/robots. It's really starting to pollute the site.

Peter

 

[LuKOs.ro]

Gold bottomed out at $1600.

 

[wackypete2]

Nice support line in spot gold. H4 chart shown. Looks like we go up from here.

Peter

 

[d-lod2]

LETS RIDE THE WAVE...................let it be monalisa


Corrective wave - irregular correction........ABC 3-3-5

A..................1912.02 - 1702.48 = 209.54
B..................1702.02 - 1920.74 = 218.26
Ca................1920.74 - 1532.59 = 388.15
Cb = B x.6......1532.59 - 1665.72 = 133.13
Cb = B x 1......1532.59 - 1750.85 = 218.26
Cb = B x 1.6...1532.59 - 1881.80 = 388.15

1665.........1750.........1881..........give and take few dollars............
Once Cb is complete will calculate Cc

Any query?

Last edited by d-lod; 10-04-2011 at 11:13 AM.

GOLD IN THIRD WAVE - Page 5

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