GOLD Elliott Wave Technical Analysis – 20th October, 2017

Last analysis expected long positions to be held for those with a longer time frame, and stops to be pulled up to just below 1,260.70. The target remains the same, and long positions should now have much less exposure to risk.

Continue reading GOLD Elliott Wave Technical Analysis – 20th October, 2017

GOLD Elliott Wave Technical Analysis – 19th October, 2017

In last analysis, after the close of the New York session for the 18th of October, Elliott Wave Gold members were advised to enter long with stops just below 1,260.72. Those long positions should now be profitable.

Advice is given today on how to manage positions with targets and any adjustment of stops.

Continue reading GOLD Elliott Wave Technical Analysis – 19th October, 2017

GDX Elliott Wave Technical Analysis – 19th October, 2017

Three Elliott wave counts are presented below in the order in which they were developed, not in the order of probability:

FIRST WAVE COUNT

MONTHLY CHART

GDX Monthly 2017
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DAILY CHART

GDX Daily 2017
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SECOND WAVE COUNT

MONTHLY CHART

GDX Monthly 2017
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DAILY CHART

GDX Daily 2017
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THIRD WAVE COUNT

MONTHLY CHART

GDX Monthly 2017
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DAILY CHART

GDX Daily 2017
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For most recent movement, this wave count has the best fit in terms of Elliott wave structure. It does look like a barrier triangle has recently finished, which may be cycle wave b.

If the triangle is correctly labelled, then this tells us two things, because it cannot be a second nor fourth wave and so may only be a B wave:

1. The breakout from this multi month consolidation should be upwards.

2. After an upwards wave to last one to several years, GDX should then turn downwards for wave C.

Published @ 02:20 a.m. EST.