The coming Gold crash

[TheApe]

1 hour ago, KDave said:

You think gold will fall to $750?

No, I dont know what will happen. If I was to guess, Id say it will go up, a lot.

But if it does drop, it wont be because he predicted it using his BS graph analysis. Hes just another idiot talking rubbish. For every 100 idiots, one ends up right.

Edited May 28, 2020 by TheApe

[TheApe]

1 hour ago, sixgun said:

With Elliot wave i have seen it counted one way and then counted another way.
Price going down to $750...........
But Sir the price is still going up...........
Wait a minute, let me count again..............
Price going up to $2200.

The only issue is if the USD appreciates a lot. There is a shortage of dollars out there to pay down USD denominated debts. It could mean the price of the USD will appreciate. The thing is most of us here are buying gold in GBP.  The price of gold might be $750 USD but at the same time it could be £1500 GBP as other fiat depreciates against the strengthening dollar. Are members going to take the chance the USD will strongly appreciate and sell all your gold for USD and hold these on that chance?

I have heard this before, but honestly I dont want to hold any dollar. They are printing more then ever and the Country is in massive debt.

Id rather be on the side of logic, although I know logic is often on the losing end.

[Prophecy]

It takes many many years to truly understand how to use an Elliot Wave properly (and not in isolation)... without that, it's just Ellio-tea Leaves.

[Xander]

14 minutes ago, Prophecy said:

without that, it's just Ellio-tea Leaves.

This is who we need...the asparagus future reading lady. 

 

[HerefordBullyun]

Interest article on the GS ratio

https://www.zerohedge.com/commodities/silver-shines-gold-glut-weighs-barbarous-relic

[Prophecy]

I think the jury is still out on the last asparagus...

Edited May 29, 2020 by Prophecy

[KDave]

6 hours ago, Prophecy said:

I think the jury is still out on the last asparagus...

The falling asparagus indicates a coming severe downside movement, expect between $750 and $400 USD as per the two vertical spread asparagus.

[sixgun]

4 minutes ago, KDave said:

The falling asparagus indicates a coming severe downside movement, expect between $750 and $400 USD as per the two vertical spread asparagus.

You are viewing the asparagus candle stick chart upside down. When viewed correctly, after a period of consolidation it is upside movement over the rest of the year between $1750 and $2400 USD. 

Edited May 29, 2020 by sixgun

[KDave]

53 minutes ago, sixgun said:

You are viewing the asparagus candle stick chart upside down. When viewed correctly, after a period of consolidation it is upside movement over the rest of the year between $1750 and $2400 USD. 

Ah yes I see it - if gravity is inverted the two asparagus do indeed say that, but we would need to see the fallen asparagus close above the plate before we can be confident in the upside target.

[AuricGoldfinger]

That was funny, especially when she said she is the only person in the world who can do it. How convenient!

[Zhorro]

If "technical analysis" of the gold price is so useful, why have so many banks made massive losses from their gold trades?

[KDave]

9 minutes ago, Zhorro said:

If "technical analysis" of the gold price is so useful, why have so many banks made massive losses from their gold trades?

No system is perfect not even asparagus.

[Prophecy]

A strong sell signal would be when she does a reading WITHOUT the massive gold plate. 

[Wonger]

On 27/05/2020 at 05:47, Divmad said:

Weren't you the guy who was sitting Gold down to $400 back in late March? If you weren't totally wiped out then, you are just another anonymous mischief making fraud. Seen your sort on hundreds of stock BBs. A waste of space. 

 

😁

[Wonger]

On 28/05/2020 at 17:49, Chorlton said:

Thinking about it logically if anyone had been shorting gold down to $400 since March each realised trade would mean you lose up to about 70%. Using any form of leveraged trade would mean you have now gone into hiding due to the huge loses.

Assuming you didn't it is likely as things recover other investment opportunities will increasingly take the place of gold and remove that part of the demand for it and other similar assets.

🙄

[Wonger]

On 28/05/2020 at 15:49, Martin1983 said:

@Wonger, anymore news mate, I login here to see the daily update from you tbh, I need gold to crumble so I can start scooping 

Be patient, you have 290000 Commercial net shorts on your side with enough firepower to overwhelm anything, there will only be one outcome! 😉 

[Prophecy]

5 hours ago, Wonger said:

Be patient, you have 290000 Commercial net shorts on your side with enough firepower to overwhelm anything, there will only be one outcome! 😉 

You do understand what that really means long term? Short speculation on PMs is highly leveraged on minimal cash cover so if it goes against them they are covering their asses fast! If the dollar weakens any more those SHORT term shorts will be round the ankles of any trader looking for a quick buck.

[HerefordBullyun]

https://www.zerohedge.com/commodities/largest-ever-physical-transfer-gold

[Martlet]

12 hours ago, HerefordBullyun said:

https://www.zerohedge.com/commodities/largest-ever-physical-transfer-gold

Worth noting the $30bn physical delivered in 2 months, is less than half a single day trading volume. 

[Wonger]

On 30/05/2020 at 02:29, Prophecy said:

You do understand what that really means long term? Short speculation on PMs is highly leveraged on minimal cash cover so if it goes against them they are covering their asses fast! If the dollar weakens any more those SHORT term shorts will be round the ankles of any trader looking for a quick buck.

I doubt the Commercials are holding 274000 net short contracts to then let the price go against them

[Wonger]

On 25/03/2020 at 11:06, Wonger said:

Look at the COT report on the 23rd April the commercials held their lowest short positions, its no coincidence that Gold bottomed around $1266 (arrow) the COT report was telling you that the commercials were now building short contracts by selling the opposing long contracts to the speculators, the COT was telling you to buy Gold and it carried on building until recently when we had record breaking shorts held by the commercials, the speculators have clearly now stopped buying contracts, so the commercials will manipulate the price down causing the speculators to close out their long contracts at losses which is the commercials gain, its wash rinse repeat ever since futures markets first began!😉    

😉

[Prophecy]

22 minutes ago, Wonger said:

😉

So if gold has a fat finger flash crash to $400 for a millisecond will you call your prediction achieved?

[HerefordBullyun]

 

[sixgun]

This Dutch guy read something in an article - he doesn't have much of a clue.

[Prophecy]

I fully expect gold spot to follow a washing line curve but to say it's going to reset to the levels mentioned in this thread is just trolling. I hope it drops 20 maybe 30 % for a while so we can pick up more for less (as it did after 2011). I do hope no one in here is short-term trading it, if you are you aren't the smart money in the market. The only way for it to go permanently down to Wonger's predictions is if a gold meteorite gently lands in uninhabited lands or a mining company works out how to get to the gold in the earth's core. Not even China and Russia dumping all their lies on the market will take it down to 400

Edited June 3, 2020 by Prophecy