Gold - on cusp of massive bearmarket :)
- Thread starter deadbroke
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Improvements in hindsight continue ......
the 4H $1,340 SHORT was the right action. This was a correct call to go short with appropriate STOP=over the top. So far so good.
The missed, but henceforth fully implemented safeguard was to close short @ $1,360. The loss would have been smaller. Of course one could have gone LONG, but I'm not doing that. I'm staying focused on catching the ultimate Short regardless the small change I lose in the attempts to catch the reversal.
Therefore on 4H the LONG continues (I am as stated NOT IN as I am only interested in Short)
quest for the ultimate short continues with no joy thus far, but plenty of value for the tuition.
the 4H $1,340 SHORT was the right action. This was a correct call to go short with appropriate STOP=over the top. So far so good.
The missed, but henceforth fully implemented safeguard was to close short @ $1,360. The loss would have been smaller. Of course one could have gone LONG, but I'm not doing that. I'm staying focused on catching the ultimate Short regardless the small change I lose in the attempts to catch the reversal.
Therefore on 4H the LONG continues (I am as stated NOT IN as I am only interested in Short)
quest for the ultimate short continues with no joy thus far, but plenty of value for the tuition.
Quote from deadbroke:
I finally got Goldie's number.
As stated earlier, she is in a terminal wave but the clearcut Ending Diagonal Triangle dovetailing nicely with the wavecount prior to it has now cleared things up nicely for me - only for me I imagine as I don't see anybody agreeing.
See daily chart below, but on weekly (not shown) the pattern looks truly stunning.
Now hear this .... note that Goldie has been in a bullrun since 1999 - so bullishness is very high so we MIGHT get a massive
B L O W O F F .... at the upper trendline @ $1,285
This Blowoff will manifest as an overshoot of the upper trendline -In other words, the upper trendline will be broken out of, fooling many into going ultra-LONG (being already Long) - but then prices will quickly reverse and kill 'em all.
The plunge thereafter will be of the order of magnitude $50-90 in the first drop in a single day or a combo 2 days.
This then is the scenario for GOLD's final top. It won't be outdone any time soon, defo not before 2020-2030
Be prepared.
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