Gold – The importance of rules – what went wrong and does it matter?

Lovely drop as projected……. but broke validation criteria!


Red lines mean red pivots!!!!

So one of my trading rules say if the unexpected happens – if the position is against you sell half, re-analyse then adjust the rest of the position!

As you are probably aware by now – I believe an open mind leads to better understanding and the blog is set out so that improvements can be made. If we do not learn from our mistakes we are doomed to repeat them!

So here is the re-analysis!

When I updated the charts I still had some old coloured pivots which I have not changed – so note differences in colours in chart above and below! Either way if I would have used my rules I should have picked up the above error!!

The reason for having multiple chart scales is somewhat simple and Esignal have not sorted it – I suppose I just do things so differently they have never come across it before!

They fix point to pixels instead of price and time where Chart that you use a scale less than 4 hours it fixes in one scale and over 4 hours in another! So I need 2 charts one for looking at yearly/quarterly/monthly/weekly/daily and 4 hour. Then in a second chart hourly/15 minute/4 minute/2 minute and 1 minute! So there you have it 11 fractal wave scales!

So what does this mean?


Unfortunately though we do not have a confirmation signal for a while, but we will have invalid signal relatively quickly to exit if you are long!

Another point to make is the brainwashing of Elliot Wave. This is a classic reactionary or panic bottom. Typically from this you get a great wave 1 back up! You can see the oversold condition with the huge gap to the green fork. Prices have 2 choices – zoom back up or work across in time!



Gallery | This entry was posted in Big Picture, Forks and MAP waves, Gold and tagged , , , , , , , , , . Bookmark the permalink.

2 Responses to Gold – The importance of rules – what went wrong and does it matter?

  1. mapportunity says:

    Interesting how so many different cycles interact leading to the same result!

    A lot of people are finding it difficult to understand the projections and so I am trying to find better ways of presenting it. It is actually pretty simple once you have the foundations I have laid out here but it is nice to see that you seem to understand what the picture is saying!.

    We need to get more interaction here and I really appreciate your comments!


  2. tblb2012 says:

    Fairly new to this site. Got to learn re: Andrews’ Pitchfork in more historical detail + its preceding
    work. With full moon on November 28 at 9:47 AM I had anticipated a significant low. Got a great one in a mini flash crash in a.m. it was a classic irregular flat correction of the way 1 (minor) rise from Nov 4 low of wave 4 (intermediate). Glenn Neely’s NEOWAVE time duration rules helped me to count it correctly + matched ~ perfectly with your weekly MLL. That was cool. 1704-5 low got tested for the 3rd time since the Nov 4 rise. Probably needed it to set up a strong base to launch wave 3 (minor). Silver which has been stronger since November 4 is already above the top of full moon mini crash. Your projected December 12-13 is when next new moon occurs at 3:42 AM which will be consistent with many of major highs in the past. This probably will turn out to be a huge sucker rally in classic wave B (primary) from late Feb 2012 with wave c (intermediate) from May 2012 seemingly looking like it will reach for the sky as the inflationists + hyperinflationists
    will predictably toot their horns as they have for last 12 years.

    The subsequent DEFLATIONARY DROP in powerful, persistent, grinding wave C (primary)
    will shock the gold bugs and many of them will cry out re: government manipulations. Funny
    how central banks have sold lot of their gold reserves ~ 2000 and are clamouring to add gold back to their reserves after 11 yr rising trend. To me that is the ultimate contrarian indicator that gold is about to drop sharply. Your Apr 2013 low may be the low of wave 1 (intermediate). With Kress cycle expected to bottom in 2014, the end of wave C (primary) of wave 4 (cycle) may
    end up being in Spring 2015 at quarterly MLL, reaching previous wave 4 of smaller degree (primary) of 2008 Credit Crisis ~ $ 950 ~ 50 % correction from ~ $1920 high.

    Keep up with your blogs. Chat with you later. Shalom. tblb

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