Good time to buy GOLD? Find out in this Analysis!
)
SUMMARY
For those who are considering to buy GOLD either as bullion, coins or ETF, perhaps the below chart could help augment your analysis:
Note how the white impulse waves showed a clear five wave impulse. Note also how the fifth wave was extended. Extended fifths often is a warning sign of a very deep and painful correction and the retracement could be as much as 86.6% fib level which is square root of the 0.78 fib station. The bear flag is also quite uncanny on how it completes the red wave 2 of (c).
To me, this chart is screaming out the ZIG ZAG Elliott Wave correction in the form of 5,3,5 waves!
STRONG SELL!
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
Follow me on Twitter for Real Time Alerts!!
--
If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
BTS Wallet - haejin1970
BTC Wallet - 1HMFpq4tC7a2acpjD45hCT4WqPNHXcqpof
ETH Wallet - 0x1Ab87962dD59BBfFe33819772C950F0B38554030
LTC Wallet - LecCNCzkt4vjVq2i3bgYiebmr9GbYo6FQf
Legal Mumbo Jumbo: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.**
I feel like there is too much paper manipulation driving the prices of precious metals down. Take a look at the charts going all the way back to 2011. If you bought back then, you have a ways to go before even breaking even.
Thanks haejin, I have actually been considering buying some gold. That picture makes for a pretty unpleasant couple of years :/
i was planning to buy as hedge against cryptos
I am never selling my silver. Even if goes to a dollar. Hah. I like to stare at my Engelhard bars when I’m bored. Lmao
Me either but after a correction like that i will ladder in for more on C!
Is this because the old gold money is flowing into crypto?
If I'm not buying it physically I'm not buying Gold.
thanks a lot dear. for.your next content sharing
What are your thoughts on Silver?
This is actually a really good find. The fact that gold is going to be suppressed to these levels says that the future in crypto is going to be strong. I am a crypto investor but I would take gold and silver over cryptos any day of the week. The main reason I am crypto stacking is to transfer it to true historical wealth. Please do a follow up on this and also on silver. Silver is the big indicator of our future because when the price breaks our world will change as we know it since all cryptos require silver to work.
Thanks for your co-operation and sharing the next valuable content about bitcoin.Thank you so much...
What about owning a good mining stock or Gold Royalties company like Sandstorm Gold. I'm not in stocks. I've been messing around simulators and miners seem the best pick if you know to spot BS and want to go long on Gold.