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April 5th, 2013: GLD Wave Count Update

Posted by pugsma on April 5, 2013

2:30 pm EST:  Here are the updated GLD wave count charts.

For the primary count I have 149.44 as the bottom of major [E]-P4 triangle.   This first move up will be minor 1 of major [1]-P5 and should reach the 155-156 area.  GLD needs to break the pink down channel resistance to begin to confirm the primary count.

For the alternate (blue) count I have wave (1) of minor C of major [Y]-P4 at 149.44.  This current move up is wave (2) of minor C and should reach the 50% (152.91) to 62% (153.74) retrace.  After wave (2) concludes wave (3) should drop to the 142 area, where (3)=1.62*(1).  Ultimately major P4 should reach the [Y]=[W] target near 136 or could stop at the 38% retrace target of 141.

GLD 60-min chart (EOD):

PUG GLD 60-min EOD 4-5-13

GLD 4-hr chart (EOD):

PUG GLD 4-hr EOD 4-5-13

GLD daily (EOD):

PUG GLD daily EOD 4-5-13

GLD weekly chart (EOD):

PUG GLD weekly EOD 4-5-13

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