CIT is being violated, so we need to lean on Elliott Waves for Gold this time around. Here is what I think is going on with Gold from here. This evening may have seen a capitulation of GOLD longs in a B wave lower. The Elliott Wave MOB is 1272.1 GCV13. Cycles are meant to go positive this week but violation of 9/15 CIT (+1 TD) is concerning.
1318 confirms bottom is in.
In morning chat with Subscribers on Wed, 9/18/13, with GOLD at 1296:
GOLD and Silver are bottoming out – retest or minor lower low allowed but this is an EW/Visual thing as model busted the 9/15 (+1 CIT) – I don’t see any change in late October – Early Nov highs theory and at this point last night’s GOLD EW is all we have to follow this trade
@ dimigon – 16 minutes ago
Gold 9/15 is at 1324 iv wave i posted on my charts – What went on from there was wave v to 1280-1290 to the next Pi Cycle 9/19 +- …. Thnx ! …..
@ chanakya – 16 minutes ago
Paul – to your question – yes a hard fall follows 9/20 top
@ dimigon – 15 minutes ago
Two Pi cycles as inversion Low to Low ….. 9/15 and 9/19 …..
@ chanakya – 15 minutes ago
Dim – thanks for that and team work – 9/15 + 9/19 = 9/17 mid point
@ pp – 15 minutes ago
Thx, Sir
@ dimigon – 14 minutes ago
Nice …..
will there be any pullbacks to buy or is it just a few days up move?
Uma:
Nothing significant in the way of major pullbacks. 1350-55 is entry point