GOLD Elliott Wave Technical Analysis – 4th August, 2017

A break below the channel and then below 1,260.03 has indicated the second hourly Elliott wave count was correct. Summary: Gold has likely had a trend change. The target is at 1,184. This may be met in about five weeks. Always use a stop. Invest only 1-5% of equity on...

GOLD Elliott Wave Technical Analysis – 14th March, 2017

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....

GOLD Elliott Wave Technical Analysis – 17th February, 2017

Price moved higher for Friday’s session, which was not expected but was allowed for. Price remains below the invalidation point on the main hourly Elliott wave count. This week volume and ATR are giving some clues as to what the upwards movement for the last...

GOLD Elliott Wave Technical Analysis – 6th February, 2017

Another upwards day fits the second hourly Elliott wave count. Price is now just above the target range, which was 1,219.11 to 1,233.43. Summary: If we expect the most common scenario to unfold, then we should be right more often than wrong. We will still be wrong...

GOLD Elliott Wave Technical Analysis – 16th January, 2017

Upwards movement invalidated the main hourly Elliott wave count and confirmed the alternate. The target is now adjusted. Summary: The new target for upwards movement to end is 1,219. In the short term, a new low below 1,187.97 would indicate a trend change and a...

GOLD Elliott Wave Technical Analysis – 24th November, 2016

A very quiet sideways session while New York is closed for Thanksgiving Day includes a slight new low. This makes a difference to the short term picture for the main Elliott wave count. Summary: A small fourth wave triangle is ending. It should be followed by a short...

GOLD Elliott Wave Technical Analysis – 13th October, 2016

More sideways movement has unfolded exactly as expected. The breakout is still expected in another one or four days. Summary: A small consolidation continues and may continue for another one or four more days. When the consolidation is complete, price should break out...