Are You a Gold Bug?
SUMMARY
Note: For anyone who missed the BitcoinLive Information Webinar, here is the replay link: https://youtu.be/No4frLOz3UE
As of June 4th, ALL Crypto Analysis will be posted on the BitcoinLive channel and Steemit will be dedicated for Equity, Commodity and Option Analysis. To Signup for the BitcoinLive limited Founding Membership slots, use this link: https://get.bitcoin.live/haejin/
__
Since last year, I've posted that Gold is in a bear market and still remain in that position. The below chart shows a maturing red B wave and once complete, the resulting C wave down in five waves can become shocking to many who see Gold as a safe haven. Wave C could target the 0.78 Fib level because look how the blue wave 5 is so EXTENDED!!
Another variation that could truncate the time of the decline iniation is that a bear flag could be in play as shown. IF this is correct, the C wave target would not be changed.
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: 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.
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
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
Follow me on Twitter for Real Time Alerts!!
Follow me on StockTwits for UpDates!!
--
--
To the question in your title, my Magic 8-Ball says:
Hi! I'm a bot, and this answer was posted automatically. Check this post out for more information.
i well detailed analysics...@haejin
Yes you are right it seems really terrible your speculation gold worth is far away from bear market but next what will happen i dont know and will wait for your next post for reconfirming about its worth
platinum $500 and gold $500 a 1:1 ratio its happened before but rare
Can you do silver pls
Barrick’s total cost to produce gold last year was $1,125/ounce. At $600.00/ounce every gold mine on the planet would go bankrupt.
lol
Not if there's dollar inflation
Why have China and Russia been amassing so much of it if the price is going to seriously tank ? On this one I disagree with Haejin I think Gold will do its usual little bouncing up and down for a while yet, but if we say major dollar inflation or major countries dumping the dollar as the world currency, expect a movement upwards not down !
I do not believe in Gold because in my country we have to import it and it affects our exchequer
And i just bought the gold 3x etf UGLD. Should i hold for now?