GOLD Elliott Wave Technical Analysis – 17th March, 2017

Sideways movement was expected for Friday. An inside day perfectly fits expectations. Summary: A small fourth wave correction may now continue sideways over another one to few days and should remain above 1,211.06. When the correction is complete, then a target for...

GOLD Elliott Wave Technical Analysis – 25th November, 2016

A short, sharp wave down to about 1,170 was expected for Friday’s session. This is what happened. Downwards movement reached 1,172.10 before reversing. Summary: Gold is in a downwards trend. The main Elliott wave count has little support from classic technical...

GOLD Elliott Wave Technical Analysis – 4th October, 2016

Downwards movement invalidated both Elliott wave counts and broke below support. Summary: Strong sharp movements are very commonly quickly reversed. How high the bounce goes may tell us which wave count is correct. A new high above 1,306.70 would add confidence to the...

GOLD Elliott Wave Technical Analysis – 30th September, 2016

Again, upwards movement was expected for Friday’s session. Price still remains above the invalidation point. Summary: Upwards movement is still expected as most likely and should show an increase in momentum and strong volume over the coming weeks. A new high...

GOLD Elliott Wave Technical Analysis – 2nd September, 2016

Upwards movement was expected for the last session. Both Elliott wave counts remain valid. Summary: Look out now for surprises to the upside. In the short term, Monday may begin with a little upwards movement to 1,328. Thereafter, price should move lower for a...

GOLD Elliott Wave Technical Analysis – 30th June, 2016

Downwards movement was expected for the main hourly Elliott wave count, but this is not what happened. However, price remains below the invalidation point, so all three hourly wave counts remain valid. Summary: It still looks more likely today that a correction will...

GOLD Elliott Wave Technical Analysis – 29th January, 2016

Downwards movement breached the invalidation point on the main hourly Elliott wave chart but not the alternate. Summary: There has been no technical confirmation of a trend change for Gold from bear to bull. The bear wave count now expects a big third wave down to...

GOLD Elliott Wave Technical Analysis – 19th January, 2016

Sideways movement remains above the invalidation point on the hourly chart. The short term Elliott wave count is changed slightly. The longer term picture is the same. Summary: Both wave counts expect upwards movement this week to make a new high above 1,112.19. The...

The Trend Is Your Friend

The flip side of the title to this post is “don’t trade against the trend”. The fact that markets trend is why traders make profits. Price is not completely random. Price tends to move in trends. Trends are often delineated by trend lines. When price...