GOLD update 02.07.18

in #gold6 years ago (edited)

GOLD seems to be a bad investment in the coming years. I have two bearish main counts.

They are basically the same ABC count, but the second has a triangle as wave B which which would take more time to unfold than the first one.

The only way to avoid a scenario like this, is to bust through 1500$ and afterwards 1600$, 1700$ like a hot knife through butter.

GOLD.JPG
GOLD1.JPG

If any of those counts turns out to be correct, the world as we know it might be in serious trouble starting either in 2021 or 2022.

I am talking about 4000+$ GOLD in blue wave 3, possibly way more than that. That can't be good for equities because GOLD is considerd a safe haven. IF the demand is huge, something is not right.

And yes, I know that the spot market for GOLD is heavily manipulated. It should be much higher already. Nevertheless I am a strong believer in waves...

image (5).png
If you think this to be useful information:
DQmRhDtjokAZnGKi4QwheqksKTFo6m4fsjMYsNNrsitC1xk.gif
image (5).png
Feel free to use and share my charts, but please mention me, @ew-and-patterns as the author. Otherwise it is considered plagiarism and I will flag you and advise my friends to do the same.
image (5).png
MUST READ!
DISCLAIMER: This post / analysis serves general information purposes only. I am not, and never will be a financial adviser. The material in this post does not constitute any trading advice whatsoever. This is just the way I see the charts and what my trading ideas (from my personal experiences) are. I use chart pattern and Elliott Wave analysis for my trading ideas.
For full disclosure: The author of this post is holding positions in this market at the time of this post. Please conduct your own due diligence, if you plan to copy anyones investment decisions!
If you make any trades or investments after reading this post, it is completely in your own responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept to never hold me accountable for any of your losses.

Please consider leaving a comment, like or resteem, if this post entertained you or helped you see things differently...

Have a nice day :-)

image (5).png
#crypto #cryptocurrency #steem #sbd #bitcoin #btc #bch #eos #ethereum #eth #litecoin #ltc #ripple #xrp #stellar #xlm #nano #cardano #ada #vechain #digibyte #dgb #binance #tron #trx #iota #neo #xmr #dash #omg #verge #xvg #bitshares #bts #finance #money #investing
image (5).png

Sort:  

Thanks for the interesting update - I agree and liquidated my gold position. What I am wondering - it seems stock markets are in trouble in general. The DOW and the S&P500 - also the NASDAQ seems to struggle. Not talking about Asia really not looking bad. For me it looks like a storm is coming but not like in a few years but in the next month. Any thoughts on this?

In my opinion they look kinda weak right now, yes. But as long as they don't start dropping hard now (which would invalidate some of the more obvious bullish counts) I think we are still fine and on the way up.

Sentiment is very bearish right now. Even above the historical average. It is very hard for equities to start a signifcant drop on bearish sentiment.
survey.JPG
source:
http://www.aaii.com/sentimentsurvey

Interesting - Thanks for the link. I know about that a drop is more likely if the sentiment is bullish - but I need to do more thinking what is really the rational behind it. I would make sense if people think that it is bearish that they sold already and there is no more stock to sell. But is that really the case at the moment? Other wise I would think that if their fear of a bearish outlook is confirmed eg. by indexes making lower highs - lower lows that than a sell off would take place.

You got any educational links or books on that for me to read?

I don't have a link or something but just the fact that 80+% of traders lose all their trading money within 5 years. Even hodlers and investors get scared in multi month or multi year corrections and sell low. In this system most people have to lose. Few always get the money of the many. That is why when there is a unified sentiment among investors, they are usually wrong, at least from a midterm perspective.

Historically speaking it almost never makes sense to sell low. The markets always recovered even after big depressions (sometimes it takes 5-12years to recover and that is a long time to be patient).

Will that go on forever? Nobody knows. If the world turns into a stagnant, not growing, violent and oppressive piece of shit (we are not far away from the orwellian dystopia in my opinion), things other than crypto or precious metals might not recover. The whole financial system might blow up like all the previous ones did.

Resteemed :-)

Gold for eternity. And what is eternal can hardly be bad... ;-)

great update. I think this is good for me

Thank you for sharing this information, hopefully in the future all market prices will be stable. 👍👍👍

Coin Marketplace

STEEM 0.16
TRX 0.15
JST 0.029
BTC 56442.36
ETH 2405.22
USDT 1.00
SBD 2.32