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Precious Metals
Market Timing |
RONALD L.ROSEN
rrosen5@tampabay.rr.com
April 30, 2008 |
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“Time is more important than price; when time is up price will reverse.”
W.D.Gann
SPECIAL
GOLD TRADING UPDATE
By
ALISTAIR GILBERT
Subscriptions are available at:
www.wilder-concepts.com/rosenletter.aspx
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?
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.
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.
Alistair Gilbert
29th April 2008
The next report will be posted on Friday, May 2, 2008.
Updates will be posted when market action warrants.
Stay well,
Ron Rosen and Alistair Gilbert
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Disclaimer: Thecontents of this letterrepresent the opinions of Ronald L. Rosen. Nothing contained herein isintended as investment advice or recommendations for specific investment decisions, and you should not rely on it as such. Ronald L. Rosen is not a registered investment advisor.Information and analysis above are derived from sources and using methods believedto be reliable, butRonald L. Rosencannot accept responsibility for any trading losses you may incur as a result ofyour reliance on thisanalysis and will not be held liable for the consequence of reliance upon any opinion or statement contained herein or any omission. Individuals should consult with their broker and personal financial advisors before engaging in any trading activities. Do your own due diligence regarding personal investment decisions.
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