Gold made an ABCD against previously posted bearish area.

It's sooooooooooooooooooo weak. Like I said with the aspect...

A bullish ABCD, but who cares.

Time to blast to new lows and then close cash, maybe a huge flush. The aspect holds true once again.

Although this 'should' be bouncing, if there is no resolution (something that can come out of the blue, and will simply explode the market up like a rocket), this may get right to that upper 1500's (just below 1600) area, centered around say 1590. The main problem with that is many are seeing and calling for this area.

And, of course, there's the new LOD.

Yep, baring a resolution, we may see the fastest 60 points down we've seen in a long time.

Now, here's the other side of the coin. The huge TL everyone has been watching has now been violated. Everyone is calling for that sub-1600 area. This is now set up for a snap up bounce. Not new highs, maybe nothing more than a pathetic little bounce, but it would still be a nice trap.

That bearish ABCD sure did play out. Wow.

Interesting and obvious viewpoint.

http://www.zerohedge.com/news/2013-10-08/least-now-its-obvious-whos-charge

Kane 4pt continuation pattern on GBPAUD.

Interesting article, but I'm mostly posting it as a reference for this one quote.

"Iceland went through a similar deflationary event to that risked in the US today when its banking system collapsed and the currency halved overnight."

Now, wait, during a deflation their currency got cut in half? No, hold up, wait, all I've ever heard is that during a deflation cash is king, it's super rare, and its buying power increases. Yeah, uh-huh, that's what really happens in the real world. My money gets me more stuff. Uh-huh. Deflation and less buying power. Makes sense.

http://www.zerohedge.com/news/2013-10-12/gold-debt-ceiling-and-fed