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Special Gold Trading Update
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“Time is more important than price; when time is up price will reverse.”
W.D.Gann
In August 1976 Wave 1 of Major Wave 5 up started its journey, a journey that was to see the price of gold rise in Major Wave 5 from $103 to $873, a stellar rise of 747% in 3 years and 5 months!
In October 2006, following Gann’s 30-year cycle, Wave 1 of Major Wave 5 up started its journey in what I believe is going to be an equally stellar rise.
In March 1978 Wave 1 of Major Wave 5 topped at $195.70, a rise of 89% in 19 months. Thirty years on, in March 1978, Wave 1 of Major Wave 5 topped at $1,032.58, a rise of just over 90%. Who says markets are not ordered when you see such similarities?
# 1
GOLD MONTHLY CHART 1974 TO 1985
In April 1978 Wave 2 of Major Wave 5 bottomed at $166.80, a fall of 14.7%. Thirty years on, in April 2008, gold has fallen 15.5% (so far) in Wave 2 and is getting ready to turn within the next week.
As we advised in our last update Wave B corrected exactly on TIME and at the precise PRICE target that we indicated, and we are now in the final minuette wave 5 down of Wave C down as indicated on the chart below.
# 2
GOLD DAILY CHART MARCH AND APRIL 2008
Finally, we can see that we are in minuette wave 5 of C right now, so let’s examine the TIME of Wave C. Wave C should be 61.8% or 100% or 161.8% in TIME of Wave A. The Fibonacci TIME chart below shows that we have just hit the 61.8% level in time of Wave A. The 61.8% in price target of Wave A is $853. This means that we are either bottoming today or will run to this Friday 2nd May. Friday is the 100% in TIME and fits well with the due Delta date for ITD # 1 and MTD # 2 turning points. Friday is also a Fibonacci 34 Trading days from the March 17th high.
# 3
Next comes Wave 3 of 5 up and it should be explosive. We will be giving our TIME and PRICE targets in the next update.
Stay well,
Alistair Gilbert
29th April 2008
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Alistair has been editor of a number of English financial newsletters. In addition to all of the above he has been Chairman of a Unit Trust Company.
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