by Lara | Feb 25, 2017 | Gold |
Upwards movement continued for Friday as the main wave count expected. Summary: Assume the trend remains the same until proven otherwise. The target for the middle of a third wave to end is at 1,296. If price turns and breaks below 1,238.74, then the breakout was...
by Lara | Feb 23, 2017 | Gold |
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. Summary: An upwards breakout has some support from volume, but there is enough concern that it may...
by Lara | Feb 21, 2017 | Gold |
Gold is still range bound. Classic analysis, with a heavy reliance on volume analysis, is used to determine probability of the main versus alternate Elliott wave counts today. Summary: Gold has now been range bound for nine sessions. Resistance is at 1,245 and support...
by Lara | Feb 11, 2017 | Gold |
Friday’s session moved price lower as expected. A strong bounce has found resistance right at the lower edge of a trend channel. This also was expected as reasonably likely behaviour from price. Summary: Probability has shifted back to a deep pullback beginning...
by Lara | Feb 6, 2017 | Gold |
Another upwards day fits the second hourly Elliott wave count. Price is now just above the target range, which was 1,219.11 to 1,233.43. Summary: If we expect the most common scenario to unfold, then we should be right more often than wrong. We will still be wrong...
by Lara | Feb 2, 2017 | Gold |
Two hourly Elliott wave counts look at two possible scenarios for the next session. Summary: The target for this next wave down to end is at 1,164 – 1,160. First, a breach of the Elliott channel on the hourly charts is required for any confidence in a high. A...
by Lara | Jan 30, 2017 | Gold |
Upwards movement was expected for Monday’s session. The target on the hourly Elliott wave count is not yet met, so the analysis today will focus on whether or not this bounce is complete. Summary: It looks more likely that the bounce is complete today and a...
by Lara | Jan 26, 2017 | Gold |
Downwards movement continued exactly as expected for Gold. The Elliott wave count remains the same. The hourly wave count will be watched carefully to manage short positions. Summary: A deeper pullback has most likely begun. Short positions should be watched carefully...
by Lara | Jan 23, 2017 | Gold |
A small upwards day has made a slight new high. Both Elliott wave counts remain the same. Summary: The bottom line is still that it must be accepted there is no indication yet of an end to this upwards wave while Gold remains within the channel and above the...
