Mornin' all,
Gold:
Since 1660 was taken out, Gold continues to bend the parabolic envelope steeper. IMHO, this market is preparing to go vertical soon in a final manic buying spree.
Here is an older chart depicting the concept of building a parabola:
Here is an update on how the parabolic move is progressing:
Today is August 8th and a potential fibo turn-date window here, centered on August 9th (+/- 1 day). Netdania shows it's dates in the measuring tool as the beginning date, which actually starts in the afternoon of the previous day, pardon the confusion. Chart:
You'll notice that every point except one has marked a turn, some bigger than others. A Fibonacci turn-date is not a certainty, but adds to the probability.
Here is the MT count for Gold that I am currently working off of:
Update:
The current 3/10/20 ribbon and ST EW count:
I would not be surprised to see PoG come back to fill the gap at least partially, test the 10EMA again, and then gap higher into a small wave (v) green toward 1742 to 1760ish to finish wave 1 black. But the 10 EMA must hold on a daily closing basis.
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