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Gold update

If we continue to trade below the 18th April 1997 counter trend Top we may see price move down to around the the 17th - 18th May where main Low is indicated . On page No 2 you can see the Curve moving into this date including two minor dates where we may possibly see a reversal in trend . The first date is the 27th April which is an intermediate strength Cycle date so if we move down into that point for low it may be a good point to take some profits of the table if there is a good price move down into this point . The second date is the 6th May which could come in as counter trend high so keep a careful watch on these two dates if we continue to move lower . As the main trend is projected down at this current point you should be very selective and only choose counter trend opportunities that are in line with the primary trend so if we wait and be patient for either of those dates to setup as a counter trend high it could present a good opportunity so hopefully as we move into these dates we will be in a clearer position to determine if we are setting up for high or low . Also by examining previous swings that are outlined on page No 1 we may be able to calculate the potential price amplitude of the movement so tonight I will prepare a second post that examines these price measurements in an attempt to narrow down some high probability price targets .

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Thanks sir! Loud and clear.



we start a down trend or only a retracement in a up trend ?

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