If you have ever seen the price structure since 1344AD (yes one-three-four-four) you will realize that Gold is in a huge bubble.
These psychological structures are built over time as the collective consciousness looks for answers by going back to the old ways.
I see this as nothing more than another long-term Zig-Zag pattern that needs to see a final low before reversing back to the upside.
That low would see price go below the $20 dollar area after we top out over the next few months.
I believe that the tightening of the money supply over the coming years will destabilize the whole money printing thesis.
Check out my previous idea on the 10-year bond yield linked below where I reflect on the pattern there since 1100AD.
I believe Gold is making a similar pattern with the difference being the shape, size and duration of each wave component, as with any chart.
They will both eventually go back to extremely lows over time with gold leading the way by several years.
You cannot see the first part of the Wave A Zig-Zag because it happened between 1934 - 1971 during World War II.
The latest move at the highs is a Weak 5-Wave Move which means it is the final move in this entire structure since 1934.
When you see another all-time-high, this would be a good time to sell.
Not financial advice!
Remember to use Disciplined Money Management Principles to ensure longevity as a trader.
If you don't know the long term pattern shouldn't you be doing your research instead of just following the crowd?
Just remember: I am not a financial adviser; I suggest using this only as a guide. Always do your own research.
***AriasWave is not the same as Elliott Wave so your counts may differ to mine if you happen to use it.***
These psychological structures are built over time as the collective consciousness looks for answers by going back to the old ways.
I see this as nothing more than another long-term Zig-Zag pattern that needs to see a final low before reversing back to the upside.
That low would see price go below the $20 dollar area after we top out over the next few months.
I believe that the tightening of the money supply over the coming years will destabilize the whole money printing thesis.
Check out my previous idea on the 10-year bond yield linked below where I reflect on the pattern there since 1100AD.
I believe Gold is making a similar pattern with the difference being the shape, size and duration of each wave component, as with any chart.
They will both eventually go back to extremely lows over time with gold leading the way by several years.
You cannot see the first part of the Wave A Zig-Zag because it happened between 1934 - 1971 during World War II.
The latest move at the highs is a Weak 5-Wave Move which means it is the final move in this entire structure since 1934.
When you see another all-time-high, this would be a good time to sell.
Not financial advice!
Remember to use Disciplined Money Management Principles to ensure longevity as a trader.
If you don't know the long term pattern shouldn't you be doing your research instead of just following the crowd?
Just remember: I am not a financial adviser; I suggest using this only as a guide. Always do your own research.
***AriasWave is not the same as Elliott Wave so your counts may differ to mine if you happen to use it.***
