Upwards movement was expected after last analysis. Friday completed a higher high and a higher low, but a deep pullback at the end of the session closed the candlestick red. Price remains above the invalidation point on the hourly chart.
Continue reading GOLD Elliott Wave Technical Analysis – 15th September, 2017
Yesterday’s analysis expected the correction to continue sideways for another day.
A small downwards day mostly fits the expectation and price remains well above the invalidation point on the hourly chart.
Continue reading GOLD Elliott Wave Technical Analysis – 19th April, 2017
A classic upwards breakout has unfolded as expected. In last analysis members were advised to enter a hedge or just enter long. With stops for long positions just below 1,240.24 or 1,221 (depending on trading strategy), members should now have profitable long positions. Short hedges, if entered, should have been automatically closed just above 1,269.72.
Trading advice for profit taking and managing long positions is given today.
It is time to step back and look at the bigger picture. Today’s analysis updates monthly and weekly charts.
Continue reading GOLD Elliott Wave Technical Analysis – 11th April, 2017
Price continued lower as the two preferred hourly wave counts expected.
Continue reading GOLD Elliott Wave Technical Analysis – 8th March, 2017
Two hourly Elliott wave counts were provided yesterday. The first hourly wave count is now looking more likely.
Continue reading GOLD Elliott Wave Technical Analysis – 7th March, 2017
Upwards movement was expected, but not as much as unfolded.
Continue reading GOLD Elliott Wave Technical Analysis – 24th June, 2016
A new low below 1,221.34 invalidated the alternate hourly Elliott wave count and confirmed the main Elliott wave count.
Continue reading GOLD Elliott Wave Technical Analysis – 11th December, 2014
More sideways movement fits the new main Elliott wave count very well, with some adjustment. The larger Elliott wave structure remains the same, and the target changes by $2.
Continue reading GOLD Elliott Wave Technical Analysis – 26th November, 2014
Upwards movement has clarified the situation. Yesterday’s alternate is now the main Elliott wave count, and I have to discard the other Elliott wave count because it no longer fits on the hourly chart and is invalid.
Continue reading GOLD Elliott Wave Technical Analysis – 18th November, 2014
I had expected a little more upwards movement to 1,185 before price turned down. This is not what happened. Downwards movement does fit the Elliott wave count nicely.
Continue reading GOLD Elliott Wave Technical Analysis – 10th November, 2014
Downwards movement continued as expected, but reached well below the target which was at 1,182. A red candlestick was expected for Friday.
Continue reading GOLD Elliott Wave Technical Analysis – 31st October, 2014
Last Elliott wave analysis expected the new week to begin with a continuation of the current correction. Gold remains in a consolidation phase, as expected.
Continue reading GOLD Elliott Wave Technical Analysis – 29th September, 2014
Price made a new low and we have another red candlestick which was expected, although price has fallen $2.84 short of the upper edge of the target zone.
Continue reading GOLD Elliott Wave Technical Analysis – 19th September, 2014