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Saturday, May 19, 2012

$GLD: EW count and forecast.So far, so very good.

We are relabeling our GLD charts ( from some months ago) with our real labeling colors as shown in the weekly chart. Remember we try to work in real time and in that case we use any color, at hand, because we need to work quickly but now, we want some order in our count.

GLD: Weekly chart

GLD: Daily chart

As you can see, our large and medium term counts are working fine. On the middle term count (daily chart) this count is our principal count but, as always, there are alternative counts. If our minuette wave 4 surpass the 50% fibonacci retracement then our alternative count will switch to wave 1 instead of 3 and wave 2 instead of 4.

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