by Lara | Mar 23, 2017 | Gold |
A slight new high was not expected but was allowed for. Thereafter, price has turned downwards to breach the channel on the hourly chart. Summary: Another pullback looks most likely to have begun today. The target is about 1,217; but if this is wrong, it may be too...
by Lara | Mar 22, 2017 | Gold |
The target was at 1,253. So far price has reached 1,251.21, just 1.79 short of the target. Summary: A Gravestone Doji on BarChart data, a decline in volume, overbought Stochastics, and a complete five wave structure for the Elliott wave count all point today to this...
by Lara | Mar 21, 2017 | Gold |
A fourth wave correction ended right at the lower edge of the Elliott channel and from there price bounced up to make new highs for a fifth wave. Summary: Assume the trend remains the same until proven otherwise. Assume price will keep going up while price remains...
by Lara | Mar 18, 2017 | Gold |
Sideways movement was expected for Friday. An inside day perfectly fits expectations. Summary: A small fourth wave correction may now continue sideways over another one to few days and should remain above 1,211.06. When the correction is complete, then a target for...
by Lara | Mar 14, 2017 | Gold |
Price has moved lower which was allowed for but not what was expected. Price remains above the invalidation point on the hourly chart. Summary: A little confidence may be had in a trend change, but hesitancy in price at the start of a possible new trend is concerning....
by Lara | Mar 13, 2017 | Gold |
Price has moved overall higher as expected from the main hourly Elliott wave count in last analysis. Summary: A little confidence may be had in a trend change, but weak volume and a long upper wick on Monday’s candlestick is concerning. It is possible we may see...
by Lara | Mar 6, 2017 | Gold |
Price has moved higher but today’s candlestick closed red. There are still at least two hourly Elliott wave counts for the main daily Elliott wave count. The alternate Elliott wave count has reduced in probability. Summary: In the short term, it looks like a...
by Lara | Mar 2, 2017 | Gold |
A strong breach of the base channel on the main hourly Elliott wave count shifted probability from bullish to bearish. The alternate Elliott wave count was then preferred because it expected more downwards movement. Summary: The new main wave count expects a deep...
by Lara | Mar 1, 2017 | Gold |
All three hourly Elliott wave charts yesterday expected some downwards movement to at least 1,240. Thereafter, the main wave count expected a resumption of upwards movement. The low for the session was 1,237.18 and then from there price bounced to close green....
