by Lara | Dec 24, 2014 | Gold |
Christmas Eve was quiet, as expected, with a small red candlestick. Price remains above the invalidation point on the main hourly Elliott wave chart, which has increased in probability. Summary: It is most likely a third wave up has just begun. First confirmation will...
by Lara | Dec 22, 2014 | Gold |
As expected price broke out of the sideways range with a downwards thrust. The target can now be calculated. Summary: Downwards movement should be close to completion. The target is at 1,162. Thereafter, the next move for Gold should be a strong third wave up, which...
by Lara | Dec 16, 2014 | Gold |
A little more downwards movement takes this move into its fifth day. I am swapping the Elliott wave counts over. Yesterday’s alternate is now the main preferred wave count. This is in line with GDX and Silver. Summary: The bigger picture remains the same, but a...
by Lara | Dec 11, 2014 | Gold |
A new low below 1,221.34 invalidated the alternate hourly Elliott wave count and confirmed the main Elliott wave count. Summary: Gold should be entering a third wave, of a third wave, of a third wave up. Upwards momentum should increase strongly. The short term target...
by Lara | Dec 10, 2014 | Gold |
A small red candlestick on the daily Elliott wave chart changes the wave count at the hourly chart level. The overall mid term target remains the same, and the trend is still upwards. Summary: This sideways movement is most likely very close to completion. Overall the...
by Lara | Dec 9, 2014 | Gold |
A new high above 1,213.45 confirmed the main hourly Elliott wave count and invalidated the alternate. The short term target at 1,235 has been exceeded by 3.38 so far, but the structure is incomplete. The target was too low. The higher mid term target remains the same....
by Lara | Dec 8, 2014 | Gold |
Both the main and alternate hourly Elliott wave counts remain valid. Both expected Monday to begin with upwards movement which has happened. The confirmation / invalidation point to the downside can now be raised. Summary: If the main wave count is correct it should...
by Lara | Dec 6, 2014 | Gold |
The correction may have ended 4.46 below the expected low. The Elliott wave count remains the same. Summary: There are two possible scenarios for Monday: either a short sharp upwards thrust to 1,235 (which would be confirmed with a new high above 1,213.45), or one...
by Lara | Dec 3, 2014 | Gold |
Sideways movement was allowed for, and expected as about 50% likely. This slightly clarifies the situation for the short term. Summary: The trend at minor degree is up. At this stage I expect sideways choppy movement for another 24 hours before the next strong upwards...
