We work on the assumption that all of our very large wave .iv. bullish triangle pattern is complete at the 1810.10 low and we have started to thrust higher in wave .v. of -iii-…
Which we expect will send gold to all time new highs!
Within wave .v. it looks like wave ^i^ of *i* ended at the 1997.20 high and all of wave ^ii^ ended at the 1929.50 low. If that is the case, then we are now starting to rally higher in wave ^iii^.
Our initial projected endpoint for wave ^ii^ is:
^iii^ = 1.618^i^ = 2234.50.
We expect higher prices over the next number of weeks as wave ^iii^ develops.
Our current projected endpoint for the end of wave .v. and wave -iii- is:
-iii- = 4.236-i- = 2531.10!
Active Positions: Long (from $1080) with puts as stops!
We are rallying in wave iii.
Our initial projection for the completion of wave iii is:
iii = 1.618i = 47.57.
Within wave (i) of iii, wave -i- ended at 24.39 and all of wave -ii- at the 19.94 low. We are now rallying in wave -iii-, which has an initial projected endpoint of:
-iii- = 1.618-i- = 30.26.
Within wave -iii-, wave $i$ ended at the 26.23 high and wave $ii$ at the 20.85 low. We are now starting to rally higher in wave $iii$, which has a projected endpoint of:
$iii$ = 1.618$i$ = 31.03.
Within wave $iii$, we completed wave !i! at the 23.88 high and wave !ii! at the 21.92 low. If that is the case then we are now moving higher in wave !iii!. which has the following initial projected endpoint:
!iii! = 1.618!i! = 26.82.
Like gold, we expect higher prices over the next number of weeks as wave !iii! develops.
Longer term our initial projection for the end of wave 3 is:
3 = 1.618(1) = 86.50!
In the very long term, we completed all of wave III at 49.00 in 1980 and all of wave IV at 3.55 in 1993. We are now working on wave V and within wave V we have the following count;
1 = 49.82;
2 = 11.64;
3 = First projection is 86.50.
Active Positions: Long with puts as a stop!
All of wave ii is now complete at the 64.36 low and we are now rallying in wave iii, which has an initial projected endpoint of:
iii = 1.618i = 264.20.
All of wave (i) ended at the 95.03 high and that we are now falling in our wave (ii), which now has a last retrace level of:
78.6% = 70.30.
We are now working on the assumption that all of wave (ii) is likely complete at the 72.37 low, and that that we have started to rally higher in wave (iii).
In the long term we are now rallying in wave C that has the following projections:
C = A = 153.77;
C = 1.618A = 244.78.
All of wave A ended at the 53.08 high in 2008 and we are now working on a very large wave B bullish triangle.
We are also working on the assumption that all of wave (e) and B have now ended at the 25.62 low.
If that is the case then we are now thrusting higher in the initial stages of a multiple year wave C.
Within wave C we are rallying in wave i of (i). Within wave (i) we completed wave *i* at 30.16 and wave *ii* at 27.60 and are now heading higher in wave *iii*, which has an initial projected endpoint of:
*iii* = 1.618*i* = 34.95.
Within wave *iii*, we appear to have completed wave ^i^ at 30.16, and all of wave ^ii^ at the 27.01 low.
If that is the case then we are now moving higher in wave ^iii^, with the initial projected endpoints noted in our daily posts.
Our projections for the end of wave C are:
C = A = 78.70;
C = 1.618A = 111.50.
Active Positions: We are long the GDX, ABX, KGC, NEM, SSSR, and TSX:XGD… with no stops!
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