by Lara | Oct 11, 2016 | Gold |
The alternate Elliott wave count has increased in probability today, so I’ve swapped over the Elliott wave counts in today’s analysis. Summary: A small consolidation continues and may continue for another few days. There is no support for upwards movement,...
by Lara | Oct 10, 2016 | Gold |
Upwards movement was expected for Monday. The alternate II Elliott wave count now begins to diverge from the main Elliott wave count at the hourly chart level, so hourly charts will be provided for both today. Summary: At this stage, the alternate II Elliott wave...
by Lara | Oct 8, 2016 | Gold |
More downwards movement is very close now to the second target, which was at 1,240. Summary: There is now evidence of a low in place with divergence between price and RSI and Stochastics, both of which are oversold. A bounce should be expected next week. If it remains...
by Lara | Oct 6, 2016 | Gold |
The first target for downwards movement has been met. Summary: Downwards movement has met the first target, but there is no evidence yet that downwards movement is over. Volume is weak indicating bears are tired. If the lilac channel can be clearly breached by upwards...
by Lara | Oct 5, 2016 | Gold |
I have three Elliott wave counts for you today. Elliott wave is fractal, so the key to seeing what is most likely to happen next is how to fit the current wave count into the bigger picture. Summary: Price has broken out of a triangle pattern downwards. A target for...
by Lara | Oct 4, 2016 | Gold |
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...
by Lara | Oct 3, 2016 | Gold |
Downwards movement was unexpected for the main Elliott wave count and shifted probability to the alternate. Summary: One more day of downwards movement to a target at 1,302 is expected before this multi day pull back is complete. There is strong support at 1,310...
by Lara | Oct 1, 2016 | Gold |
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...
by Lara | Sep 29, 2016 | Gold |
Upwards movement was expected for Thursday’s session. Price moved a little lower. Summary: Upwards movement is now expected and should show an increase in momentum and strong volume over the coming weeks. Corrections may now start to be more brief and shallow. A...
