Quick Update: Gold - A Change In Wave Count Reveals BIGGER Move!

6 Sep 2016

So far, +315 pips move on our trade.....

My last post on Gold, I posted this chart:
With that update, I also said "Gold is still heading down in a wave (iii). So DON'T try to BUY yet! And yes, it is TOO LATE to try to SELL and get in on the downtrend because this wave (iii) may be coming to an end soon. By my wave count, it should retrace back up soon in a corrective wave (iv). After that is done, I will be looking to trade the wave (v) back down. "

I then followed it up with this chart update:
With that update, I said "if you look at my last update, you will see that Gold had moved EXACTLY as I said it would. EXACTLY. When it hit that MAJOR SR Structure on my chart and gave a BUY signal, I told my members to go ahead and BUY and we did at 1310.79. And as of now, we are up +146 pips on this move. Did you all follow my chart?"

But now that prices have moved as strongly as they did AND beyond my TP point, it has invalidated my original wave count and forced me to reassess it. Of course, I'm not mad because the more it keeps moving, the more me and my members are making off this trade! If you had joined us, you would be too! So now, I have readjusted my wave count to account for this move up. And what you may notice is that in order to accommodate this move, I have had to mark the previous move down as a wave 1 and this move back up as a wave 2. Which means that when this move up finishes, the next move COULD be a wave 3 down! I say COULD be because...here is my ALT Bullish wave count that MUST be considered!

If this ALT BULLISH wave count is correct, hey, my members and I are already in on the ground floor of a HUGE, HUGE move! You could've been also had you been a member!

So take BOTH my wave counts into consideration before you decide to do anything.

*DISCLAIMER:
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!

THINK before you comment! It takes MUCH work and time to create these posts! So before you decide to criticize me for what I post, or how I choose to post, remember that I don't just throw a chart up with a few lines on it with a few arrows showing 2 possible directions and that's it. I can do those in 5 mins. My charts take MUCH effort and I put much detail into creating them for your benefit. I hope it helps but I also hope it's appreciated!

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