[GLD] high level look

Backlink suggests the possibility of a pullback to test the top rail from above and that may well happen but for non day traders, you know, those of you who I have been telling to buy something golden, cost averaged over time, here is the higher level picture.

What this picture tells all of my non trading personal family, all my non trader friends is this: buy the 3 wave dip and hold until at least we get to the 38.2 fib.  At that point we'll have to evaluate the wave count because it is still possible that Avi can be correct (new huge bull in progress) or EWI will be correct (this is a B wave suckers bounce that, while powerful and easily well worth trading to the long side, will eventually peak in a 3 wave move to either the level of the prior 4th or the 38.2 or the 50 or the 61.8 before collapsing down to 600-700 into a C wave and THEN the big gold bull will take off).

Buy the dips, do not chase peaks EVER.  The is always another opportunity even if you come late to the game but if you buy the peak and don't wait for a dip then you are showing extremely poor risk management skills and the market WILL make you pay for them eventually.