Gold: Past, Present, and Future

brightviper48 said:Is gold currently undergoing Elliott corrective waves over these last few months? Perhaps it might be wise to ride that C wave once it actually kicks in...

Post the chart so we can see if it's actually worth it...

Melissa Sanchez17 said:Hey, can I pick your brain for a second about all this Fibonacci stuff and the wave theory you’re talking about? I’m pretty much clueless when it comes to this technical side, but I'm genuinely curious. Like, how many people out there are staring at charts right now thinking exactly what you are? And if a massive crowd of traders uses the exact same tools and lands on the same conclusions, how do you even play that? Do you just go against the grain and trade the opposite of whatever the "consensus" says?😕

Not the opposite—it’s moving right along with the signal... because that way, it actually fulfills its own purpose.

If everyone assumes a price will climb to 100 before it finally breaks—and then begins to slide—they’ll all rush to sell at that exact mark... effectively triggering the very crash they predicted. It becomes a self-fulfilling prophecy, really.

dustyheron5 said:Post the chart so we can see if it's actually worth it...

I’ll be sketching out some wave patterns on the chart tonight—then I'll post them here...

brightviper48 said:Not the opposite—it’s moving right along with the signal... because that way, it actually fulfills its own purpose.

If everyone assumes a price will climb to 100 before it finally breaks—and then begins to slide—they’ll all rush to sell at that exact mark... effectively triggering the very crash they predicted. It becomes a self-fulfilling prophecy, really.

I’ll be sketching out some wave patterns on the chart tonight—then I'll post them here...

That's just trend following.

quiettrucker12 said:That's just trend following.

Not necessarily. About half of the technical tools out there actually generate counter-trend signals.

Otherwise, "the trend" is such a loose, broad, and fickle concept...

brightviper48 said:Not necessarily. About half of the technical tools out there actually generate counter-trend signals.

Otherwise, "the trend" is such a loose, broad, and fickle concept...

I was talking about building a trend using tools most people actually have access to, then following it—like expecting a run up to 100 before the drop. Basically, can you actually make money just by riding the trend, even when everyone already knows what it is? I think that’s what mkovac was getting at. In actual trading, there are much more important things to worry about than that.

Is there even such a thing as a non-trending period?

A little something for my colleague Charles—though, frankly, what he needs to understand has been staring him in the face for years now.

Egon von Greyerz continues :

“Almost every single major country in The World is bankrupt, and no one has the tools or a plan to get these countries out of this crisis. Consequently, nations will either collapse under their own weight or simply print endless amounts of money to stay afloat . This downward spiral is only going to intensify, eventually triggering a hyperinflationary depression.

Ha! Honestly, I don't even care about all that noise. I just look at the charts, and all I see is one long, ugly downward slide.

But seriously... when is silver finally hitting $50?😂 We’re staring down the end of the year here...☕

lonehawk5 said:Ha! Honestly, I don't even care about all that noise. I just look at the charts, and all I see is one long, ugly downward slide.

But seriously... when is silver finally hitting $50?😂 We’re staring down the end of the year here...☕

But Charles, the year isn't over yet... those manipulators will flip the market right when you least expect it. I have zero doubt they can move prices whenever it suits their interests.😍

Is it all coming to an end? Just 170 days left.🙂

Why gold is looking ridiculously cheap right now:
http://www.zerohedge.com/news/china-...-gold-holdings

Think there's any chance gold dips today?

http://www.businessinsider.com/chart...#ixzz20Z9jWEUq

Worth a look—even for Charles.😍

Man, if this actually turns out to be true, I’d love to just load up on silver at $18 🙂. And gold too 🙂
.

http://www.munknee.com/2012/07/gold-...50117-in-2013/

Held at $1547 (basically that $1555 trendline). Now the big question: if the Dollar slips below 82—maybe hitting an 81.6 or 81.7 on the DXY—how high does gold fly? For now, we’ve broken above the 10-day moving average. Only three more hurdles left :-) Next up is the 75-day moving average (which also acts as a trendline gold has failed to crack multiple times) at roughly $1611, then the previous peak at $1622, and finally $1642.

Let's not kid ourselves here; the current setup isn't great for gold. It’s trending down. But since the bottom held its ground again, it looks like we're headed straight for a test of the upper boundary (which happens to be the 75-day moving average).

So, looking at the current price of $1587... our lower consolidation floor is that $1555 trendline (though it's sitting just a hair above that now). The ceiling is the 75-day moving average, currently at $1613, though by the time we actually get there, it’ll likely have drifted down to $1611. That leaves us with a tight $55 range between the floor and the ceiling ($1611 - $1556). Right now, we're sitting $24 away from the top and $31 from the bottom.

We'll see how things shake out over the next few days, quiettrucker12. Honestly, I'm almost certain we aren't getting Quantitative Easing 3. The market is holding its own right now—fragile as hell, sure—but it's staying afloat. I caught somewhere that they won't even bother with Quantitative Easing 3 because the Federal Reserve can just drop a few well-timed statements every month to nudge the market up, let it dip, then swoop in with another comment to stabilize things... and they can just keep playing that game for another year if they want to!

That says everything you need to know about this "market." What a complete joke...

Anthony Evans78 said:That says everything you need to know about this "market." What a complete joke...

So, the retail sales numbers just dropped 😍

Looks like we’re bracing for some serious action in the gold and silver markets today. My gut tells me the volume is going to be massive—we might even see trading levels hitting anything close to what the entire half-year mining output looks like. Just a wild thought, but stay tuned.😂

It’s been a bit of a roller coaster—up some days, down others. Honestly, looking at the last six months, there hasn't really been much movement to speak of.

Paul Peterson4 said:It’s been a bit of a roller coaster—up some days, down others. Honestly, looking at the last six months, there hasn't really been much movement to speak of.

Depends on who you ask, I guess. If you're actually out there trading, things have been pretty interesting...