So the one everyone has a passion about!!!!
This is derived from a systematic methodical approach and show a rule count break! by 0.283%. As the picture is the same for silver - still converting that to new format, I have chosen to accept the tolerance of error of the rule break! So don't tell me I am crazy!!!
Context through Fractal wave time warping! I don't have enough data to see what fractal wave top it is, but at a guess wave 3 as it is showing 2015 as the final low - another 2 or 3 years for the politicians to loose the sovereign debt fight and peoples confidence in them will be gone!!! That is when gold will go parabolic! Wave 1!!!!
The peak, lovely wave formation.
Then the I told you it was going parabolic commentators....
The break of the D123 support confirmed the downtrend. The current bull shit about buy the dip..... We will see as the next leg down is likely to be vicious as everyone loads up now, but whatch what happens when it breaks 4H-1.....
UPDATE 7 November - Gold has nicely followed it's projected channels and appears to have completed D-2. I expect some support in the 1640 'ish area depending on wave development before retesting Mays lowes early next year.
Time will tell.