GLD to 160 before reaching 141.
I am wondering if we are still in Wave 2 of Wave 5 of the Greater Wave 3 or are we in Wave 4? I am wondering with Moody's Downgrade of UK from AAA will cause a rally going beyond passing 29.00 before breaking down to the 28 dollar region Monday. Is it possible that we could rally that hard on the Wave 4 of Wave 5 of the Greater Wave 3, causing it to be a diagnal? I am currently short and wish to ride silver down to the 28.00 region of your blue box for the wave 3, and then go bullish allowing myself to be whipsawed to 26.87 region and sell it at the 29.75 region and watch it go or correct and then begin shorting from 29.00 to the same level the end of wave 5 of 3 will take me, then allow myself to be whipsawed going further down to wherever it takes me being in the long position until we reach 34 region. I just don't want to get too cute with it, and give myself plenty of room with Silver. What do you think of this strategy. I am a novice trader, and know very little, but I am also worried that if GLD does not hit 148.10 with a confirmation of 146.27 on this downleg and even if it did if it turns down after 160.98, then we will be seeing GLD at 141.86 and Silver at the 22/24 range. Everyone, how is my trading strategy? I am preparing for the 22/24 region since we don't have enough bearish sentiment to call this a bottom, and that we are going to have only a corrective rise t