Some upwards movement was expected for Friday. Overall, this is what happened with a higher high and a higher low from Thursday.
Downwards movement was expected for Gold, which is exactly what has happened today. The Elliott wave count remains the same and the target remains the same.
The target using the flag pole remains the same.
More upwards movement was expected to the next target at 1,313 – 1,314. The high for Tuesday’s session was at 1,311.81.
Members were warned to expect a sideways consolidation. An inside day exactly fits this expectation.
Upwards movement is continuing for the week exactly as the Elliott wave count expected.
Downwards movement was expected to continue for the new week. So far this is what is happening.
Sideways movement was expected to continue.
A strong upwards movement to end the week favours the Elliott wave triangle count. However, to increase the count’s probability, the confidence price point still needs to be passed.
A new low invalidates the main daily Elliott wave count and confirms the alternate. A new target is calculated.
A small inside day fits the idea of a multi day consolidation unfolding.
A slightly lower low and a small range day mostly fits short term expectations.