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...

GOLD Elliott Wave Technical Analysis – 7th December, 2015

Upwards movement was expected but did not happen. Price remains above the invalidation point on the hourly chart. Summary: The structure of this correction is unclear. But what looks most likely is that it is not over and may end in two more days at 1,104. Or it may...

GOLD Elliott Wave Technical Analysis – 17th November, 2015

Yesterday’s hourly chart expected some more downwards movement short term and warned a new low may be seen. This is what happened. Summary: What looks most likely today is some upwards movement which may last about two days. The target is 1,101 – 1,104 in...

GOLD Elliott Wave Technical Analysis – 23rd October, 2015

Price whipsawed taking out both invalidation points and providing more confusion, not clarity. Summary: More downwards movement is likely at least for the short / mid term. The target is 1,142 to be met in two days time. A new low below 1,120.32 would be very bearish...

GOLD Elliott Wave Technical Analysis – 14th September, 2015

The Elliott wave counts still diverge and price has still not indicated which one is correct. Summary: The bear wave count expects downwards movement to continue, with an increase in momentum, and the bull wave count expects upwards movement. The critical trend line...

GOLD Elliott Wave Technical Analysis – 3rd September, 2015

Downwards movement is unfolding as expected for both Elliott wave counts. Summary: Downwards movement should continue to 1,096 for the bull wave count or 1,063 for the bear wave count. On the way down, a new low below 1,072.09 would fully invalidate the bull wave...