Gold Price - Where is it heading?

[chops_a_must]

Your labelled C to me could only be a 1 from where I'm sitting.

 

[Whiskers]

Your labelled C to me could only be a 1 from where I'm sitting.

Ordinairly, it would be as kauri's count was I think... last I saw he was looking like ending a 5 where my B is.

But from my progressive count from the 1030 high I ended up with an Expanded Flat 3, 3, 5 to start the wave 3 off.

It's not set in stone, but so far it's been working for me. That being the case we are in for a generally more gradual rise in the POG for a few months or so cos it most likely would be wave one of a diag triangle where wave one and four must overlap and five cannot be the longest... as opposed to a regular impulse such as the recent steep rises to the peaks in gold and oil.

 

[IFocus]

Whiskers admire your continued persistence but for the life of me I cannot see how you get the blue 2.

 

[nunthewiser]

Don't want to add fuel to any 'crash' scenerios, but it looks by my countin as though the next stop for gold is about 810ish.

Also USD index seems to be going up again equating to better returns in AUD. Also I've got oil backing up to about 110-15ish before carring on falling... not sure to where... looking at some long term counts and sub 20 seems not out of the question.

Oh., rederob... re oil "primary" trend... yeah argueably the super long trend is up, but for me it's going down for at least a few months yet improving our production costs.

Anyone got different view?

Kauri, how's your wave count goin?

no chart attached but using pencil and paper anaylsis , gold 910 next , opposite to your call of 810 ish ....... usd 78 opposite your call .... time tells all

ps is that your call or an EW general consensus call ?

 

[Whiskers]

Whiskers admire your continued persistence but for the life of me I cannot see how you get the blue 2.

Sorry about that, IFocus... I forgot to tack on the legend.

As best I can tell so far the 1030 high was the end of cycle 1 and we've had an (a) (b) (c), the next lower degree, correction for cycle 2.

no chart attached but using pencil and paper anaylsis , gold 910 next , opposite to your call of 810 ish ....... usd 78 opposite your call .... time tells all

ps is that your call or an EW general consensus call ?

My EW is used for range finding guided by my FA and other TA. I understand that's how Elliot originally used it.

My 810 is my target to finish the correction, ie I don't expect it to take out a new high, but it could revisit 910 again. Likewise for oil, 84 to finish off the larger degree wave.

If someone has a 'better' count, I'm open...

 

[nunthewiser]

On your chart below you are clearly indicating that your analysis indicates as golds next move will be to 810 and the usd to 84 ..is this the case you are stating ?

 

[SBH]

Sorry for such a newbie question - but does anyone here want to give advice on the best method to buy gold? (The online variety - I dont want a gold bar in my lounge room). I know the asx has a way to do it through a fund called GOLD, traded like any other stock, and then there are online options too like Bullion fund. Whats the best option??
Really want to get some gold before we destroy our dollar with a big ole rate cut AND the world realises the commodity boom is over... down down down aussie dollar... up up up gold

 

[Whiskers]

On your chart below you are clearly indicating that your analysis indicates as golds next move will be to 810 and the usd to 84 ..is this the case you are stating ?

Yes, but not litterally the next move from where it is now for the next few minutes.

As I pointed out they are my targets to complete the current larger degree waves... the price will swing around as the minor degree wave's progress and pan out.

 

[nunthewiser]

ok thanks ....... time tells all . my calls there too , not a contest sorry if it coming out that way , just pointing out that my anylasis and your anylasis are in opposite directions as described by your chart ,

have a great evening

 

[Ageo]

Sorry for such a newbie question - but does anyone here want to give advice on the best method to buy gold? (The online variety - I dont want a gold bar in my lounge room).

Im no expert on paper gold but i know you can trade it via leveraged instruments (like futures or CFD's). Unleveraged gold trading im not aware of.

 

[Trembling Hand]

Sorry for such a newbie question - but does anyone here want to give advice on the best method to buy gold? (The online variety - I dont want a gold bar in my lounge room). I know the asx has a way to do it through a fund called GOLD, traded like any other stock, and then there are online options too like Bullion fund. Whats the best option??
Really want to get some gold before we destroy our dollar with a big ole rate cut AND the world realises the commodity boom is over... down down down aussie dollar... up up up gold

SBH it depends on how much yo want to by as to what is the best way to jump on...

And why not have it in your lounge room. Gold bas make great beer coasters.

 

[nomore4s]

And why not have it in your lounge room. Gold bars make great beer coasters.

And a good paper weight too.

 

[IFocus]

Sorry about that, IFocus... I forgot to tack on the legend.

As best I can tell so far the 1030 high was the end of cycle 1 and we've had an (a) (b) (c), the next lower degree, correction for cycle 2.



My EW is used for range finding guided by my FA and other TA. I understand that's how Elliot originally used it.

My 810 is my target to finish the correction, ie I don't expect it to take out a new high, but it could revisit 910 again. Likewise for oil, 84 to finish off the larger degree wave.

If someone has a 'better' count, I'm open...

Whiskers can I suggest you pop over to the Chartist and see if Nick still has 1 months subscription, there are lots of charts both current and past marked up using EW with a commentary he has a current gold chart marked up. It could fast track your progress certainly did for me at least.

 

[cuttlefish]

Sorry for such a newbie question - but does anyone here want to give advice on the best method to buy gold? (The online variety - I dont want a gold bar in my lounge room). I know the asx has a way to do it through a fund called GOLD, traded like any other stock, and then there are online options too like Bullion fund. Whats the best option??
Really want to get some gold before we destroy our dollar with a big ole rate cut AND the world realises the commodity boom is over... down down down aussie dollar... up up up gold

If you want a tradeable paper equivalent of a direct holding then the ASX GOLD seems pretty good - it tracks the Australian dollar gold price fairly well - its pretty straightforward as far as I can tell - they buy gold in proportion to the units they issue and whack on a small management fee. They publish the gold entitlement monthly I think. I don't think its allocated but could be wrong. If you want allocated then the Perth mint has products but thats really a physical gold holding and so probably not as tradeable as ASX.GOLD.

If you want proper leverage and currency hedging etc. then futures is probably the best way to go.

I guess you could look at a US based ETF if you want to track USD gold price instead of AUD gold price.

 

[noirua]

Still heading for US$1,000 per oz despite the strong US$. Aussie gold stocks should do well with the Aussie$ down over 20%.

 

[mazzatelli1000]

If someone has a 'better' count, I'm open...

Hey Whiskers,

I'm no expert on EW, but I thought I'd like to share my experience with it. I have found that there is a tendency when applying EW, I would forcefully apply a count even when it made no sense.

For one or two of your posts I have seen that. Hopefully it will be something you will be aware of.

Good luck with it!!!!

 

[nunthewiser]

Well Done whiskers nice call , cant be accused of hindsight analysis.

cheers

 

[Kauri]

(DAILIES )...the way I have posted and been following the yella stuff... the last move .. although corrrective... doesn't really look straight-forward to me.. as my E/W is purposely basic, just the simple waves without expanded and expounded corrections, nested 1,2's et al, I am waiting for something I can feel comfortable with before committing to the fray again..

Ooops, sorry Nick... just saw your post... relief on my part that mine rouughly ties in... :walker:

Cheers
..........Kauri

 

[nunthewiser]

OOPs . sorry whiskers but gonna have to take back half of my congrats . YOU were spot on on your gold call and for that well done in calling it before the fact BUT looks like my call on the USD a bit closer . either way onya for stickin your neck out before the fact and posting your analysis.
have a nice day

 

[nunthewiser]

(DAILIES )...the way I have posted and been following the yella stuff... the last move .. although corrrective... doesn't really look straight-forward to me.. as my E/W is purposely basic, just the simple waves without expanded and expounded corrections, nested 1,2's et al, I am waiting for something I can feel comfortable with before committing to the fray again..

Ooops, sorry Nick... just saw your post... relief on my part that mine rouughly ties in... :walker:

Cheers
..........Kauri

Thanks Kauri for posting the chart on what happened , any chance of posting one on what you think Will happen ?
cheers

ps can anyone tell me how i actually post a chart here ? and how do i copy a chart from my trading platform , sorry if sounding naieve but never had to do this before