Tag Archives: gold

Drawing Bear Market Trend lines | 27th June, 2017

One of my favourite Technical Analysis texts is the classic “Technical Analysis of Stock Trends” by Magee. In this book Magee describes how to draw trend lines for bull and bear markets.

Gold Daily 2016
Click chart to enlarge.

To draw a trend line in a bear market draw the line from the high to the first major swing high within the bear market. Extend the line outwards. Assume the bear market remains intact while price remains below the line. When upwards movement breaks above the trend line, it is an indication of a potential trend change from bear to bull.

My definition of a breach is a full candlestick above and not touching the trend line.

This technique works on all time frames.

This chart is on a monthly time frame and indicates that Gold may remain in the larger bear market, which began on September 2011.

This analysis is published @ 03:02 a.m. EST on 28th June, 2017.

Drawing Trend Lines? Simple is Best | 27th June, 2017

One of my favourite Technical Analysis texts is the classic “Technical Analysis of Stock Trends” by Magee. In this book Magee describes how to draw trend lines for bull and bear markets.

Gold Daily 2016
Click chart to enlarge.

To draw a trend line in a bull market find the first two major swing lows, then draw a line across them. Extend the line out to the right. Assume the bull market remains intact while price remains above the line. When the line is properly breached, it is an indicator of a potential trend change from bull to bear.

This technique works on all time frames.

Gold began a series of higher highs and higher lows on the daily chart after the low in December 2016. Within this upwards trend, the first two swing lows are taken as the 27th of January and the 10th of March. This trend line has now been tested eight times, with downwards movement for the last session of the 26th of June being the eighth test.

How Gold behaves at this trend line in the next few days will be a strong indicator. Does the bull run continue or is it over?

This analysis is published @ 03:43 a.m. EST.

GOLD Elliott Wave Technical Analysis – 23rd February, 2017

An upwards day with some increase in volume has broken above resistance.

The main Elliott wave count was invalidated and the alternate Elliott wave count was confirmed.

Continue reading GOLD Elliott Wave Technical Analysis – 23rd February, 2017

GOLD Elliott Wave Technical Analysis – 7th January, 2016

Price has broken out of a consolidation upwards.

Continue reading GOLD Elliott Wave Technical Analysis – 7th January, 2016

Christmas and New Year Holiday Dates 2015 – 2016

Elliott Wave Gold will be closed for two weeks during the Christmas and New Year holiday.

Holiday dates are from Monday 21st December to Friday 1st January.

Last analysis of the year will be after market close of Friday 18th December.

First analysis of the new year will be done after market close for Monday, 4th January, 2016, and will include a video update.

During the two week holiday, markets will be closed for two and a half days and there will be seven and a half days when markets will be open but which will not be analysed.

May all members have a very Merry Christmas and a Happy New Year.

May we all look forward to great profits next year!

GOLD Elliott Wave Technical Analysis – 11th December, 2015

The correction continues as expected.

Continue reading GOLD Elliott Wave Technical Analysis – 11th December, 2015

GOLD Elliott Wave Technical Analysis – 26th November, 2015

Slow sideways movement was expected.

I have a new hourly Elliott wave count today which fits recent movement perfectly.

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

GOLD Elliott Wave Technical Analysis – 24th November, 2015

A correction was expected to most likely continue, which is what has happened.

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