Monthly Archives: August 2015

GOLD Elliott Wave Technical Analysis – 31st August, 2015

A small correction is unfolding sideways.

The correction was expected to end Monday about 1,148 – 1,150, but it is not unfolding exactly as expected.

Continue reading GOLD Elliott Wave Technical Analysis – 31st August, 2015

SILVER Elliott Wave Technical Analysis – 31st August, 2015

The following charts are in no particular order.

WAVE COUNT #1

Silver daily 2015
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Silver daily 2015
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WAVE COUNT #2

Silver daily 2015
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Silver daily 2015
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WAVE COUNT #3

Silver daily 2015
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Silver daily 2015
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Please feel free to add your own wave count ideas for Silver in comments below.

GOLD Elliott Wave Technical Analysis – 26th August, 2015

Movement below 1,119.23 has invalidated how the bull wave count was labelled for most recent movement and reduced the probability overall of that count.

At this stage, I now have a bull and bear count which have about an even probability. Price should tell us which one is correct.

Continue reading GOLD Elliott Wave Technical Analysis – 26th August, 2015

GOLD Elliott Wave Technical Analysis – 25th August, 2015

Downwards movement fits both Elliott wave counts, but with greatly reduced volume the main Elliott wave count is better supported.

Continue reading GOLD Elliott Wave Technical Analysis – 25th August, 2015

GOLD Elliott Wave Technical Analysis – 24th August, 2015

Some downwards movement was expected for the new wave count in the short term, which is what has happened. Movement was choppy and overlapping and moved lower for Monday.

Today I will expand on three different ideas for the new wave count at the weekly chart level. Also, I will rank each idea in order of probability.

Continue reading GOLD Elliott Wave Technical Analysis – 24th August, 2015

GDX Elliott Wave Technical Analysis – 21st August, 2015

BEAR – MONTHLY ELLIOTT WAVE COUNT

GDX monthly bear 2014
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BEAR – DAILY ELLIOTT WAVE COUNT

GDX daily 2014
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BULL – MONTHLY ELLIOTT WAVE COUNT

GDX monthly bull 2014
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There are at this stage three likely structures for primary B for the bull wave count .

Please note: these three ideas work in the same way for Gold. There, these three ideas are three structures for cycle wave b. These will be published at the weekly chart level for Gold next analysis and each day thereafter. One by one they may be eliminated until only one is left.

BULL – DAILY ELLIOTT WAVE COUNT – EXPANDED FLAT

GDX daily expanded flat 2014
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BULL – DAILY ELLIOTT WAVE COUNT – TRIANGLE

GDX daily triangle 2014
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BULL – DAILY ELLIOTT WAVE COUNT – COMBINATION

GDX daily combination 2014
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A double zigzag should be eliminated for primary B because the X wave would be far too deep. For a combination intermediate (Y) is most likely a flat, but it may also be a triangle.

GOLD Elliott Wave Technical Analysis – 21st August, 2015

Upwards movement to a short term target for Friday was expected. The target at 1,164 – 1,168 was met and slightly exceeded by 0.41.

I have a new wave count. Volume analysis favours it, and some problems with the prior Elliott wave count are resolved.

Continue reading GOLD Elliott Wave Technical Analysis – 21st August, 2015

GOLD Elliott Wave Technical Analysis – 20th August, 2015

Last analysis expected upwards movement to continue, which it has, but the target at 1,141 was inadequate.

Continue reading GOLD Elliott Wave Technical Analysis – 20th August, 2015

GOLD Elliott Wave Technical Analysis – 19th August, 2015

Upwards movement was expected. The first target was reached.

Today’s Elliott wave analysis will focus on: identifying if this structure is complete, and looking at what price point would provide first confirmation.

Continue reading GOLD Elliott Wave Technical Analysis – 19th August, 2015

GOLD Elliott Wave Technical Analysis – 18th August, 2015

Upwards movement was expected for Tuesday.

Although price moved sideways to complete a small green doji, downwards movement during the session moved below the invalidation point on the hourly chart.

Continue reading GOLD Elliott Wave Technical Analysis – 18th August, 2015