Disliked{quote} I agree with you. if you buy @ 1017 (50%) you buy at the balance point MID and your investment should be a good one for the next years. If we reach 803 i will buy gold and hold forever! {image}Ignored
The labeling on the chart is most probably wrong. If you take a chart which goes further back, chose a logarithmic scale, and use an PPO indicator for momentum measurement, then it is most likely, that the 19xx was the wave 5 top.
If that is right, price should "ideally" drop into the 200 region. I can not envision that.......
But I will start buying Gold in the 1000 region and keep on grabbing when it goes lower. When the recent move down (from the top) is finished, it will only be a wave A most likely.
So I do expect in the 1100-650 range a reversal, targeting the 1500 area ideally. From that area the again a huge wave C down, which then could easily target the 200-400 area.
JMHO