Gold Update: Bull Rally Just Beginning? Or Ending? +670 Pips!

2 Jan 2019

+670 pips paper profits on this trade? Yep! Actually, its +1,340 pips and going as I issued a call to open TWO trades: one a "shorter term" trade and one a longer term trade. Both are still open. If you got my call and traded with me, you would be up that much right now too! And if you think that this kind of profit is impressive....well, you really should see my LONG TERM analysis on Gold!

Back last year, on Nov. 27th, I published this post "If I Told You Gold Is In A Bull Rally, Would You Believe Me?". In that post, I practically GAVE you all the game plan for getting into this BULL rally. Several of you disagreed and some said no, it's going lower first. In that post, even I thought it might drop a little bit before rallying! But it didn't. Here's what I said in that post:

"my outlook has not changed just due to "little" drop we just saw take place. We still see it as bullish . And in fact, if my wave count is correct, then what I am looking to do is to wait out this "little" drop and see how far it
goes and if the price action tells me that my wave count is correct, I will be looking to BUY into what would be a wave ( iii ) of 3! The "wonder to behold" wave."

I didn't get not one single PM asking me for more info on this coming rally at that time. So I must assume that many of you either disagreed or agreed and didn't need anymore info. So I hope you all did in fact get in on this rally! Its a BULL market for sure!

On Dec 3rd, I posted this: "Gold: Are You In On This Bull Rally? You Were Warned! Now +131". Again, I warned that you all NEEDED to get in on this rally! At that point, there was very little doubt that Gold was about to EXPLODE! And even less doubt that we were about to see a wave 3-type move. Now whether that was/is a wave (iii) as I have labeled it, maybe. Maybe not! Maybe its a wave C. Who knows for sure? Who cares if its a 3 or a C? What mattered is that my wave labeling led me to believe that there was about to be an EXPLOSION coming and my overall LONG TERM wave analysis told me that Gold was about to turn BULLISH. That allowed me to have the confidence to BUY and that is what matters. Not whether I got the exact correct wave count as many of those strict Elliotticians keep reminding me whenever they disagree. What can't be disagreed about is the PROFITS!

Now that you know how I came into this trade, what about now? My analysis is telling me that this wave (iii) should be about to pull into the station and take a rest. Some say you can never lose if you always close your trades in profit. That person was referring to scalping and closing trades every time you even sniffed a few pips profit! I don't think he/she was referring to trades being in HUNDREDS of pips profit! Because it would be stupid to need to say that when your trade is in such great profits. Anyway, you are seeing my 4HR short term chart on Gold and the profits I have in this SO FAR!

Also, I have no reason to believe that my wave count is incorrect. What that means is that even if the wave (iii) is coming to an end, it still means that there is going to be a wave (v) coming that will take prices even HIGHER! If you can manage to keep your head when the wave (iv) pull back comes, you could reap even higher rewards! I will....

I asked you all to PM me for more info......you still can!