May 20th, 2013: GLD Wave Count Update
Posted by pugsma on May 20, 2013
12:50 pm EST: The primary GLD count is that minor 2 of major [1]-P5 bottomed today at 130.85, just above the P4 low of 130.51. The target for minor 3 is at 164, where minor 3 = 2.62*minor 1. Any move below 130.51, will invalidate this primary count and confirm the alternate (blue) count.
The alternate (blue) count is that wave iii-(5) of minor C of major [Y]-P4 bottomed today at 130.85 and that a wave iv-(5) move up is underway that will eventually fail below wave i-(5) low of 139.30 leading to drop down to 127-128 to complete wave v-(5) of minor C of major [Y]-P4. Any move above 139.30 will invalidate this alternate (blue) count and confirm the primary count.
GLD 60-min chart (mid-day):
GLD 4-hr chart (mid-day):
Sorry, the comment form is closed at this time.
You must be logged in to post a comment.