Jul 132011
 

Many people are calling to ask whether we should sell gold now because it has reached the target. The answer is a firm NO. Remember wave counts can change. The momentum is too strong here. So back off and wait. We got the rally as anticipated. But dont get bearish here.

  One Response to “Urgent GOLD update”

  1. […] As you can see from the chart, we seem to be experiencing an extension in the fifth wave (even though the third wave was also an extended wave). Although Elliott has said that at least one impulse wave will be extended, we have seen several cases of a trend having two extensions. ( we will not quarrel with those who disagree, because what works for us seems to work well!) Going back to the Gold chart, wave 3 did a 300% projected move of Wave 1. Then we got a brief correction after which the fifth wave took off to the upside again. There was no way anyone could have predicted a second extension, but WaveTimes warned you that we should forget being short. […]

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