Elliott Wave 5.0 "Reboot"

Thursday, March 17, 2016

Gold Intraday Bull Move Review: Clear As Mud!

I am sure you have read when a wave analyst says that the wave count is "Crystal Clear" !
Compared to what? Most of the time the wave counts are never clear and we will miss more than we can catch. For an example that recent bottom between the 15th and the 16th would be a very ugly and muddy wave 1-2 and then the subsequent blast was far more vertical than what one would expect from a potential impulse move. 

If that button is a true start, then this wave pattern has a long way to go, and at a bare minimum must extend wave  3 adding on another full leg up.  The early March crash,  now looks like it has a nice zigzag to it,  then technically this zigzag should also still get fully retraced. 

All the wave counts are Minuette degree and lower with a Submicro run already completed. 

The gold/oil April contract ratio is still a healthy 32:1 so nothing to worry about just yet.