Downwards movement was expected to continue. Overall, Friday’s session did move price lower with a lower low and a lower high, but the session closed green with a strong upwards push. This was not expected.
Members are offered some trading strategies for how to approach this market early next week.
Continue reading GOLD Elliott Wave Technical Analysis – 31st March, 2017
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.
Continue reading GOLD Elliott Wave Technical Analysis – 21st March, 2017
Downwards movement continued as expected for Monday’s session.
The main Elliott wave count remains the same. The alternate is slightly adjusted at the hourly chart level.
Continue reading GOLD Elliott Wave Technical Analysis – 13th February, 2017
Some weakness is seen in this upwards movement and price remains within a narrow channel on the hourly Elliott wave chart.
Continue reading GOLD Elliott Wave Technical Analysis – 10th January, 2017
Downwards movement was expected to continue for the main Elliott wave count after last analysis.
The target remains the same and the alternate now has a new target.
Continue reading GOLD Elliott Wave Technical Analysis – 15th December, 2016
Upwards movement was expected, but this is not what has happened.
Price has moved mostly sideways to complete a small red doji and remains above the invalidation point on the hourly chart.
Continue reading GOLD Elliott Wave Technical Analysis – 29th November, 2016
Yesterday’s main Elliott wave count expected downwards movement, but this has not happened.
Classic technical analysis will be used today to judge the probability of the main vs. alternate Elliott wave counts.
Continue reading GOLD Elliott Wave Technical Analysis – 25th October, 2016
The Elliott wave counts diverged yesterday.
Price remains within the confirmation / invalidation points.
Classic technical analysis, particularly volume analysis, will be used to judge the probability of each wave count today. Price is the ultimate determinator though.
Continue reading GOLD Elliott Wave Technical Analysis – 20th October, 2016
A short term move lower to 1,311 – 1,312 was expected before more upwards movement.
Price has moved higher.
Continue reading GOLD Elliott Wave Technical Analysis – 6th September, 2016
Again, upwards movement unfolded as expected from the Elliott wave count and classic technical analysis.
Continue reading GOLD Elliott Wave Technical Analysis – 2nd August, 2016
The small pennant pattern noted in yesterday’s analysis continues to move price sideways in a narrow range. The breakout direction is expected to be the same.
Continue reading GOLD Elliott Wave Technical Analysis – 19th July, 2016
Upwards movement was expected as most likely from the main Elliott wave count. The alternate expected a little downwards movement.
Continue reading GOLD Elliott Wave Technical Analysis – 7th July, 2016
Upwards movement was expected for Tuesday, which is exactly what happened.
Continue reading GOLD Elliott Wave Technical Analysis – 31st May, 2016